Repatriation requirement for ECB proceeds: rupee intended funds must be credited to domestic rupee accounts and not parked abroad. ECB proceeds intended for rupee expenditure must be repatriated immediately and credited to borrowers' Rupee accounts with Authorised Dealer Category I banks; only proceeds for foreign currency expenditure may be retained abroad. Retained funds may be parked in highly liquid, rated instruments; repatriated rupee funds are prohibited from investment in capital markets, real estate or inter corporate lending.
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.
Repatriation requirement for ECB proceeds: rupee intended funds must be credited to domestic rupee accounts and not parked abroad.
ECB proceeds intended for rupee expenditure must be repatriated immediately and credited to borrowers' Rupee accounts with Authorised Dealer Category I banks; only proceeds for foreign currency expenditure may be retained abroad. Retained funds may be parked in highly liquid, rated instruments; repatriated rupee funds are prohibited from investment in capital markets, real estate or inter corporate lending.
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