https://www.taxtmi.com/circulars?id=1819 The circular establishes an automatic route for qualifying ECBs and refinancing within a prescribed ceiling, allowing registered legal entities (including proprietorships/partnerships) to raise funds from internationally recognised lenders through a reputed merchant banker without prior Ministry/Reserve Bank approval. Corporates must submit three signed copies of the loan agreement via an authorised dealer to the Reserve Bank Regional Office, which will allot a loan identification number; primary responsibility for compliance rests with the corporate. Draw-downs are permitted without prior permission but quarterly returns are required; prepayment and foreign currency account use remain subject to Reserve Bank approval. en-us Tue, 05 Sep 2000 00:00:00 +0530 Fri, 03 Oct 2008 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1819 The circular establishes an automatic route for qualifying ECBs and refinancing within a prescribed ceiling, allowing registered legal entities (including proprietorships/partnerships) to raise funds from internationally recognised lenders through a reputed merchant banker without prior Ministry/Reserve Bank approval. Corporates must submit three signed copies of the loan agreement via an authorised dealer to the Reserve Bank Regional Office, which will allot a loan identification number; primary responsibility for compliance rests with the corporate. Draw-downs are permitted without prior permission but quarterly returns are required; prepayment and foreign currency account use remain subject to Reserve Bank approval. Circulars FEMA Tue, 05 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1819