« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Durable makers for lower indirect taxes... UP Vidhan Sabha passes VAT Bill... » FinMin notifies rules for foreign currency exchangeable bonds February, 19th 2008 Finance Ministry on Friday allowed companies to issue Foreign Currency Exchangeable Bonds (FCEB), with a maturity period of five years, to raise funds from the overseas market by unlocking part of the holding in group companies. "The investment under the scheme shall comply with the foreign direct investment policy as well as the External Commercial Borrowing (ECB) Policy requirements," said a Finance Ministry statement adding these bonds will have lock-in period of five years but could be exchanged into equity shares of another company before the redemption. The rate of interest on these bonds and issue expenses would be within ceiling prescribed by Reserve Bank under the ECB policy, it added. The FCEB Scheme has been announced by the government in pursuance of Finance Minister's budgetary announcement last year. FCEB would be denoted in foreign currency, and the principal and interest will also have to be paid in foreign currency. These bonds to be issued by an Indian company, will be subscribed by non-residents in foreign currency and can be exchanged into equity shares of another company- either wholly or partly. Finance Ministry said the company, which issues these bonds and the firm whose shares are exchanged against such bonds, must be part of same promoter group. The proceeds of these bonds can be invested in the group companies subject to the end use norms prescribed by the ECB policy.