Bridge finance refinancing under automatic route permitted for infrastructure imports, subject to verification and ECB compliance requirements. Refinancing of bridge finance in the form of buyers' or suppliers' credit for infrastructure imports is permitted under the automatic route if the trade credit is refinanced before the permissible trade credit period, the authorised dealer verifies import of capital goods via the Bill of Entry, the original trade credit and imports comply with trade credit and DGFT policies, and the proposed ECB complies with all extant ECB guidelines.
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Provisions expressly mentioned in the judgment/order text.
Bridge finance refinancing under automatic route permitted for infrastructure imports, subject to verification and ECB compliance requirements.
Refinancing of bridge finance in the form of buyers' or suppliers' credit for infrastructure imports is permitted under the automatic route if the trade credit is refinanced before the permissible trade credit period, the authorised dealer verifies import of capital goods via the Bill of Entry, the original trade credit and imports comply with trade credit and DGFT policies, and the proposed ECB complies with all extant ECB guidelines.
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