External commercial borrowing recovery: banks may permit sale of secured property and repatriation of proceeds. Where a resident borrower defaults on an external commercial borrowing, an authorised dealer bank may permit the overseas lender or security trustee holding a charge on immovable property to sell that property to a person resident in India and repatriate the sale proceeds towards the outstanding dues of that specific ECB. Separately, authorised dealer banks may, subject to Reserve Bank directions, permit residents to create charges on immovable property in favour of overseas lenders or security trustees to secure external commercial borrowings.