External Commercial Borrowings for overseas direct investment now permitted to fund JV/WOS formation and cross border mergers and acquisitions. ECB proceeds may be raised by eligible resident corporates to finance overseas direct investment in JVs/WOS, including mergers and acquisitions, subject to existing ECB parameters and applicable Indian direct investment guidelines; such proceeds must be parked overseas until utilised for the investment, and the amendment is effective immediately under the Foreign Exchange Management Act.
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.
External Commercial Borrowings for overseas direct investment now permitted to fund JV/WOS formation and cross border mergers and acquisitions.
ECB proceeds may be raised by eligible resident corporates to finance overseas direct investment in JVs/WOS, including mergers and acquisitions, subject to existing ECB parameters and applicable Indian direct investment guidelines; such proceeds must be parked overseas until utilised for the investment, and the amendment is effective immediately under the Foreign Exchange Management Act.
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