Cap on foreign currency borrowings set and parking of loan proceeds permitted pending utilisation under regulator directions. The Regulations amend the principal FEMA borrowing/lending rules to permit borrowings in foreign exchange per borrower company per financial year up to such amounts as directed by the Reserve Bank for RBI permitted end uses; specify qualifying infrastructure sectors (power; telecommunication; railways; road including bridges; sea port and airport; industrial parks; urban infrastructure; and mining, exploration and refining); and allow the parking of loan amounts abroad or in India pending utilisation, subject to Reserve Bank directions, with specified retrospective effective dates and a clarification that no person will be adversely affected by the retrospective effect.
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.
Cap on foreign currency borrowings set and parking of loan proceeds permitted pending utilisation under regulator directions.
The Regulations amend the principal FEMA borrowing/lending rules to permit borrowings in foreign exchange per borrower company per financial year up to such amounts as directed by the Reserve Bank for RBI permitted end uses; specify qualifying infrastructure sectors (power; telecommunication; railways; road including bridges; sea port and airport; industrial parks; urban infrastructure; and mining, exploration and refining); and allow the parking of loan amounts abroad or in India pending utilisation, subject to Reserve Bank directions, with specified retrospective effective dates and a clarification that no person will be adversely affected by the retrospective effect.
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