https://www.taxtmi.com/circulars?id=4387 AD Category - I banks may convey no objection under FEMA for creation of charges on immovable assets, pledge of financial securities, and issuance of corporate or personal guarantees to secure resident ECBs, provided the ECB complies with extant guidelines, the loan agreement includes a security clause and is signed, and the borrower holds a Loan Registration Number. Such no objection is limited to the foreign exchange angle; each security form must be co-terminus with ECB maturity and meet specified conditions on enforcement, transfer in line with FDI policy, auditor certification of end-use, and appropriate corporate or individual authorisations. en-us Fri, 11 Jul 2008 00:00:00 +0530 Wed, 01 Oct 2008 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4387 AD Category - I banks may convey no objection under FEMA for creation of charges on immovable assets, pledge of financial securities, and issuance of corporate or personal guarantees to secure resident ECBs, provided the ECB complies with extant guidelines, the loan agreement includes a security clause and is signed, and the borrower holds a Loan Registration Number. Such no objection is limited to the foreign exchange angle; each security form must be co-terminus with ECB maturity and meet specified conditions on enforcement, transfer in line with FDI policy, auditor certification of end-use, and appropriate corporate or individual authorisations. Circulars FEMA Fri, 11 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4387