Delegation of lender-change approval for external commercial borrowings allows AD Category-I banks to approve transfers subject to conditions. Authorised Dealer Category-I banks are empowered to approve changes in the recognised lender for ECBs when both original and new lenders fall within specified recognised categories, provided the new lender meets recognised-lender criteria, no other ECB terms change, and the ECB complies with extant guidelines; changes involving foreign equity holders or collaborators remain subject to Reserve Bank review. Approved changes must be reported in Form 83 and the amendment is effective immediately while other ECB policy parameters remain unchanged.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Delegation of lender-change approval for external commercial borrowings allows AD Category-I banks to approve transfers subject to conditions.
Authorised Dealer Category-I banks are empowered to approve changes in the recognised lender for ECBs when both original and new lenders fall within specified recognised categories, provided the new lender meets recognised-lender criteria, no other ECB terms change, and the ECB complies with extant guidelines; changes involving foreign equity holders or collaborators remain subject to Reserve Bank review. Approved changes must be reported in Form 83 and the amendment is effective immediately while other ECB policy parameters remain unchanged.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
