Foreign currency bridge finance for spectrum bidders permitted, with RBI-specified conditions and refinancing and repayment exemptions. Authorises foreign currency borrowings as bridge finance for successful spectrum reauction bidders to make upfront payments, permitting refinancing by fresh foreign currency borrowings under the Act and regulations subject to Reserve Bank-specified terms. Exempts such bridge finance from sub-paragraph (v) of paragraph 1 and allows refinancing of rupee loans used for upfront payments without application of the repayment restriction in sub-paragraph (iv)(B); permits borrowings from the ultimate parent company subject to Reserve Bank conditions.
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Provisions expressly mentioned in the judgment/order text.
Foreign currency bridge finance for spectrum bidders permitted, with RBI-specified conditions and refinancing and repayment exemptions.
Authorises foreign currency borrowings as bridge finance for successful spectrum reauction bidders to make upfront payments, permitting refinancing by fresh foreign currency borrowings under the Act and regulations subject to Reserve Bank-specified terms. Exempts such bridge finance from sub-paragraph (v) of paragraph 1 and allows refinancing of rupee loans used for upfront payments without application of the repayment restriction in sub-paragraph (iv)(B); permits borrowings from the ultimate parent company subject to Reserve Bank conditions.
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