The Financial Services Commission of India ( FSOCI ) on Wednesday said that the government of the country has agreed to pay out Rs. 6,200 crore to six private equity firms over a long-term bond deal, raising questions about the legality of the deal and the legality to sell bonds for a long time.

The government has agreed in principle to pay the debt of the private equity funds, including BDL and Kalaari Capital, to finance the debt-reduction of the Central Bank of India.

The debt of these private equity companies was restructured in March last year to reduce the exposure of the banks to default in the event of the RBI raising interest rates.

But the debt restructuring process was not legally valid.

The banks have been trying to negotiate a debt restructuring with the government for months.

The government has, however, rejected the offers.

The deal was approved on March 22, but was not formally approved until the next day.

The FSOC, which is investigating the case, said in a statement on Wednesday that the Finance Ministry will provide a copy of the Finance Bill that is expected to be passed by the Lok Sabha on March 26.

The deal was worth Rs. 5,973 crore, or about 30% of the value of the bonds.

The five private equity deals involved were BDL Capital (BDL) which is the largest investor in the private sector, including banks; BDL Global, which has a 50% stake in the banks; Kalaar Capital, which owns about 40% of BDL; and the private-equity firm CIM Group.

These firms are part of the “Kalaari Group” which owns banks like State Bank of Bhutan and State Bank Of India.

The private-sector deals were finalized in the summer of 2016 and are expected to close by April 2020.

In its statement, the FSOC said the banks had agreed to renegotiate the terms of the bond in the last two years.

In return, the government agreed to the following terms: The banks will repay the bond amount to the tune of Rs. 3,600 crore.

The finance ministry will also pay out the amount of interest at a rate of 12% per annum, in the form of an interest-only loan.

The interest rate for the debt has been set at 12.5%.

The finance ministry also agreed to provide the banks with a loan of Rs 1,700 crore, with the banks being reimbursed for the cost of the interest and repayment.

The debt of all the private companies involved was restructures, including those of State Bank, State Bank Capital, and State Reserve Bank.

The banks had also agreed not to use any other banks’ funds in the restructures.

The FSOC further said that after the restructurings, the banks would get their money back.

The governments government will provide details about the banks’ financial position in due course.

The finance department said it would release a full report within six weeks, and a complete accounting within 30 days.