Solomon & Co. is a full-service law firm headquartered in Mumbai, the financial and commercial capital of India, with offices in Mumbai and Pune. Founded in 1909, the firm is ranked amongst the most reputed law firms in the country.
The firm provides high-value legal services across a broad range of practice areas, including Corporate, Mergers and Acquisitions, Business and Trade, Banking and Finance, Capital Markets, India entry, Private Equity, Dispute Resolution, Real Estate and Construction, Insurance and Intellectual Property. Since its inception, Solomon & Co. has been advising Indian and international companies, government organizations and individuals on their most challenging transactions. Our clients range from global banks, investment funds and high net-worth individuals to not-for-profit organizations. Solomon & Co. is a member of Alliott Global Alliance in Mumbai, Pune and Goa.
Eligible residents are currently permitted to enter into FCY/INR
swaps to hedge against exchange rate or interest rate risk
exposure arising out of long-term foreign currency borrowings
or to transform long-term Rupee borrowings into foreign currency
liabilities. The existing rules did not allow re-booking or
re-entering of swap transactions once they had
been cancelled.
By way of a circular dated 13 February 2015, the Reserve Bank of
India has allowed residents who have entered into a FCY-INR
swap to re-enter into a fresh FCY-INR swap on cancellation of
the original swap contract in cases where the underlying is still
surviving, but only after the expiry of the tenor of the
original cancelled swap contract.
Originally published in March 2015.
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