What are the conditions under which Companies in India can borrow in rupees?
A. A company, incorporated in India, may borrow in rupees on repatriation or non-repatriation basis, from a non-resident Indian or a person of Indian origin resident outside India or an Overseas Corporate Body (OCB), by way of investment in Non-convertible Debentures (NCDs). The issue of NCDs should be made by a public offer and the period for redemption of such (NCDs) is not less than three years.
