Issue of shares against external commercial borrowings permitted for convertible foreign currency receipts, subject to tax liabilities and procedures. Issue of equity shares is permitted against all External Commercial Borrowings received in convertible foreign currency, excluding instruments treated as deemed ECBs, provided that all applicable tax liabilities are met and prescribed procedures are complied with prior to issuance.
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.
Issue of shares against external commercial borrowings permitted for convertible foreign currency receipts, subject to tax liabilities and procedures.
Issue of equity shares is permitted against all External Commercial Borrowings received in convertible foreign currency, excluding instruments treated as deemed ECBs, provided that all applicable tax liabilities are met and prescribed procedures are complied with prior to issuance.
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