External Commercial Borrowings (ECB) Policy – ECB proceeds for acquisition of shares under the Government’s disinvestment programme of PSUs - Clarification
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External Commercial Borrowings allowed for acquisition in multiple rounds of government PSU disinvestment, subject to existing approvals. ECB proceeds may be used for acquisition of PSU shares in all subsequent stages of the Government disinvestment programme; ECB facility is available for multiple rounds of disinvestment. Authorised Dealer Category I banks should inform their constituents; the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and do not affect other statutory permissions.
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 allowed for acquisition in multiple rounds of government PSU disinvestment, subject to existing approvals.
ECB proceeds may be used for acquisition of PSU shares in all subsequent stages of the Government disinvestment programme; ECB facility is available for multiple rounds of disinvestment. Authorised Dealer Category I banks should inform their constituents; the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and do not affect other statutory permissions.
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