EEFC account eligibility: SEZ units are ineligible, though they may open foreign currency accounts with authorised dealers subject to conditions. SEZ units are not permitted to open EEFC Accounts. However, a unit in a Special Economic Zone may open a Foreign Currency Account with an Authorised Dealer in India, subject to the conditions prescribed under the regulatory framework governing foreign currency accounts by residents.
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Provisions expressly mentioned in the judgment/order text.
EEFC account eligibility: SEZ units are ineligible, though they may open foreign currency accounts with authorised dealers subject to conditions.
SEZ units are not permitted to open EEFC Accounts. However, a unit in a Special Economic Zone may open a Foreign Currency Account with an Authorised Dealer in India, subject to the conditions prescribed under the regulatory framework governing foreign currency accounts by residents.
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