External commercial borrowings: eligible non-residents may provide credit enhancement for INR bonds; maturity reduced to three years. Eligible non-resident entities may provide credit enhancement for INR-denominated bonds and debentures issued under the automatic ECB route by all borrowers eligible to raise ECBs automatically. Minimum average maturity for such instruments is reduced to three years, with prepayment and call/put options prohibited up to that period. If a guarantor meets the liability and foreign-currency repayment to the non-resident is permissible, prevailing all-in-cost ceilings for the relevant Trade Credit/ECB maturity will apply to the novated loan.
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: eligible non-residents may provide credit enhancement for INR bonds; maturity reduced to three years.
Eligible non-resident entities may provide credit enhancement for INR-denominated bonds and debentures issued under the automatic ECB route by all borrowers eligible to raise ECBs automatically. Minimum average maturity for such instruments is reduced to three years, with prepayment and call/put options prohibited up to that period. If a guarantor meets the liability and foreign-currency repayment to the non-resident is permissible, prevailing all-in-cost ceilings for the relevant Trade Credit/ECB maturity will apply to the novated loan.
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