External Commercial Borrowings end-use expansion permits import of services and license fees subject to documentation and bank due diligence Policy now treats import of services, technical know how and license fees as part of import of capital goods for manufacturing and infrastructure companies, permitted under the automatic or approval route provided there is a signed agreement, original invoice certified by the borrower, declarations that the expenditure will be capitalised and forms part of project cost, and that the AD Category I bank ensures the bonafides; other ECB conditions remain unchanged.
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Provisions expressly mentioned in the judgment/order text.
External Commercial Borrowings end-use expansion permits import of services and license fees subject to documentation and bank due diligence
Policy now treats import of services, technical know how and license fees as part of import of capital goods for manufacturing and infrastructure companies, permitted under the automatic or approval route provided there is a signed agreement, original invoice certified by the borrower, declarations that the expenditure will be capitalised and forms part of project cost, and that the AD Category I bank ensures the bonafides; other ECB conditions remain unchanged.
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