https://www.taxtmi.com/circulars?id=11144 The Master Circular consolidates the regulatory framework for External Commercial Borrowings and trade credits, establishing two routes: the Automatic Route for eligible corporates, SEZ units and specified NGOs subject to recognised lender categories, minimum average maturities, all in cost ceilings and defined permitted end uses concentrated on real and infrastructure investment; and the Approval Route for proposals outside automatic limits or special entities subject to Reserve Bank approval. It prescribes security, guarantee restrictions, parking of proceeds, prepayment and refinancing rules, delegation to AD banks for limited post LRN changes, and detailed reporting and disclosure obligations including Loan Registration Number requirements and periodic returns. en-us Fri, 01 Jul 2011 00:00:00 +0530 Fri, 01 Jul 2011 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11144 The Master Circular consolidates the regulatory framework for External Commercial Borrowings and trade credits, establishing two routes: the Automatic Route for eligible corporates, SEZ units and specified NGOs subject to recognised lender categories, minimum average maturities, all in cost ceilings and defined permitted end uses concentrated on real and infrastructure investment; and the Approval Route for proposals outside automatic limits or special entities subject to Reserve Bank approval. It prescribes security, guarantee restrictions, parking of proceeds, prepayment and refinancing rules, delegation to AD banks for limited post LRN changes, and detailed reporting and disclosure obligations including Loan Registration Number requirements and periodic returns. Circulars FEMA Fri, 01 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11144