https://www.taxtmi.com/circulars?id=1961 Corporates raising External Commercial Borrowings may retain borrowed funds abroad in bank accounts for future forex requirements provided debits are only for approved purposes, payments to overseas suppliers are supported by import documents with certified evidence of imports submitted with the ECB2 return, parked deposits are not used to provide fund based or non fund based facilities in India, accounts are closed and unspent balances repatriated when requirements are met, and specified account details are submitted to the Reserve Bank through the authorised dealer within eight days of opening. en-us Mon, 13 Jan 2003 00:00:00 +0530 Mon, 06 Oct 2008 14:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1961 Corporates raising External Commercial Borrowings may retain borrowed funds abroad in bank accounts for future forex requirements provided debits are only for approved purposes, payments to overseas suppliers are supported by import documents with certified evidence of imports submitted with the ECB2 return, parked deposits are not used to provide fund based or non fund based facilities in India, accounts are closed and unspent balances repatriated when requirements are met, and specified account details are submitted to the Reserve Bank through the authorised dealer within eight days of opening. Circulars FEMA Mon, 13 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1961