Is the minimum equity holding requirement of foreign equity holder (direct/indirect) applicable where the end uses is other than general corporate purpose/working capital/repayment of Rupee loans?
External Commercial Borrowings (ECB) and Trade Credits - As on Jun 26, 2023
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Foreign equity holder lending eligibility depends on end-use; recognised lenders cover other permissible end-uses. Eligibility to lend depends on the end-use: foreign equity holders are permitted to lend for end-uses specified at paragraph 2.1.viii(d)-(f), while for other end-uses not in the negative list lending is permitted by recognised lenders at paragraph 2.1.iv.
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.
Foreign equity holder lending eligibility depends on end-use; recognised lenders cover other permissible end-uses.
Eligibility to lend depends on the end-use: foreign equity holders are permitted to lend for end-uses specified at paragraph 2.1.viii(d)-(f), while for other end-uses not in the negative list lending is permitted by recognised lenders at paragraph 2.1.iv.
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