https://www.taxtmi.com/circulars?id=11158 Indian companies may raise fresh ECBs/FCCBs under the automatic route to refinance outstanding FCCBs, provided the fresh borrowing meets extant ECB maturity and cost norms, does not exceed the outstanding redemption value, is not raised within six months before maturity, and is declared in Form 83 as for 'Redemption of outstanding FCCBs'. Designated AD Category I banks must monitor end use; all other automatic route ECB conditions apply and amounts count toward the automatic route limit. Restructuring that changes the conversion price is not permitted; other restructurings require approval route consideration. en-us Mon, 04 Jul 2011 00:00:00 +0530 Wed, 06 Jul 2011 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11158 Indian companies may raise fresh ECBs/FCCBs under the automatic route to refinance outstanding FCCBs, provided the fresh borrowing meets extant ECB maturity and cost norms, does not exceed the outstanding redemption value, is not raised within six months before maturity, and is declared in Form 83 as for 'Redemption of outstanding FCCBs'. Designated AD Category I banks must monitor end use; all other automatic route ECB conditions apply and amounts count toward the automatic route limit. Restructuring that changes the conversion price is not permitted; other restructurings require approval route consideration. Circulars FEMA Mon, 04 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11158