https://www.taxtmi.com/circulars?id=2031 Revisions to External Commercial Borrowings restrict eligibility to commercial legal entities and qualifying cooperatives, exclude individuals, trusts, non profits and all financial intermediaries, and bar such intermediaries from guaranteeing ECBs. All in cost ceilings have been revised by project type. Large ECBs are permitted only for equipment imports or foreign exchange needs of specified infrastructure sectors. Rupee expenditure ECBs under the Automatic Route must be hedged unless naturally hedged, and unutilised proceeds must be parked overseas. The changes are effective immediately under Sections 10(4) and 11(1) of FEMA. en-us Fri, 14 Nov 2003 00:00:00 +0530 Sat, 04 Oct 2008 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2031 Revisions to External Commercial Borrowings restrict eligibility to commercial legal entities and qualifying cooperatives, exclude individuals, trusts, non profits and all financial intermediaries, and bar such intermediaries from guaranteeing ECBs. All in cost ceilings have been revised by project type. Large ECBs are permitted only for equipment imports or foreign exchange needs of specified infrastructure sectors. Rupee expenditure ECBs under the Automatic Route must be hedged unless naturally hedged, and unutilised proceeds must be parked overseas. The changes are effective immediately under Sections 10(4) and 11(1) of FEMA. Circulars FEMA Fri, 14 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2031