company raised through automatic route Foreign currency convertible Bond (in short FCCB) by filing relevant application with Reserve Bank of India on Form ... thereafter, the FCCB was issued confirming to the Foreign Direct Investment Policy of the Government of India and the Reserve Bank of India also issued
account
of alleged gain on buyback of FCCB and that too by
treating it as revenue receipt and that too by recording
incorrect facts ... account
of alleged gain on buyback of FCCB and that too by
treating it as revenue receipt and that too by recording
incorrect facts
tune of Rs.6485 crores by way of foreign currency convertible bonds
(FCCB) during the previous Assessment Year. Out of the said FCCB
funds ... under.
(2). Out of the proceeds of the said FCCB funds, an amount of Rs.5142 crore
was given to M/s. Reliance Info Investments
Mumbai licensed area.
(c) The contention of the Appellant that all the FCCB
realignment related gains losses are not allocable to
the licensed area business ... followings:
(1) Long term borrowings comprising of Euro
Note (2017) and FCCB which were allocated to
divisions outside License Area.
(2) Buyer's credit
each as on 17.7.2007 at the option of the plaintiff.
12. The FCCB's are constituted by the Trust Deed, dated 16.7.2007 executed between ... conditions of the FCCBs, which sets out the procedure for conversion of FCCB into the shares at the option of the plaintiff
reimbursement of expenses received by the
assessee for issue of GDR/FCCB etc. from Indian companies is not taxable as fees for
Technical Services under ... being sub-
(i) All receipts on account of issue of GDR & FCCB are in the nature of normal fund
for the issuing company
Court of
Mauritius has frozen the assets of the respondent for securing FCCB bonds worth
USD 84 billions. Learned counsel submits that even according
Holdings towards Global Depository
Schemes and due to conversion of convertible bonds (FCCB's)
received from Essar Energy Holdings into equity shares
requested
for further time for redemption of the Foreign Currency Convertible Bonds (FCCB)
as per the Trust Deed dated 23.11.2006. Through a subsequent letter dated ... respondent Company may not be
available for honouring its commitment under the FCCB.
In view of above, let notice returnable in 6 weeks be issued
Sethi, the
CDR scheme does address the concerns of the FCCB holders also and
thus a holistic and macro view has been taken. He pointed
