External Commercial Borrowings for airline working capital extended under existing approval route conditions until end of March next year. Permission to raise External Commercial Borrowings (ECB) for working capital by airline companies in the civil aviation sector is extended until March 31, 2016 on the same terms and conditions under the approval route; AD Category I banks must inform constituents. The Circular is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and does not affect any other statutory permissions that may be required.
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Provisions expressly mentioned in the judgment/order text.
External Commercial Borrowings for airline working capital extended under existing approval route conditions until end of March next year.
Permission to raise External Commercial Borrowings (ECB) for working capital by airline companies in the civil aviation sector is extended until March 31, 2016 on the same terms and conditions under the approval route; AD Category I banks must inform constituents. The Circular is issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and does not affect any other statutory permissions that may be required.
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