20 August, 2015
Schedule5 of FEMA 20 provides that all investment by foreign portfolio investors (FPIs) in corporate bonds shall have a minimum residual maturity of 3 years. The circular dated July 16, 2015 clarifies that the minimum three year residual maturity requirement is not applicable to investments by FPIs in security receipts issued by asset reconstruction companies.
For further information, please contact:
Sawant Singh, Partner, Phoenix Legal
sawant.singh@phoenixlegal.in
