https://www.taxtmi.com/circulars?id=11309 ECB policy for the infrastructure sector permits a specified portion of fresh ECB proceeds to refinance outstanding Rupee term loans taken for capital expenditure on earlier completed infrastructure projects, under the approval route and subject to conditions: a majority of proceeds must fund capital expenditure for new infrastructure projects; refinance is limited to Rupee loans for capital expenditure and to loans outstanding with the financing bank; applications via Authorised Dealer Category I banks must include project and auditor certifications and AD confirmation of outstanding Rupee loans; AD banks shall monitor end use and domestic banks may not provide guarantees. en-us Fri, 23 Sep 2011 00:00:00 +0530 Mon, 26 Sep 2011 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11309 ECB policy for the infrastructure sector permits a specified portion of fresh ECB proceeds to refinance outstanding Rupee term loans taken for capital expenditure on earlier completed infrastructure projects, under the approval route and subject to conditions: a majority of proceeds must fund capital expenditure for new infrastructure projects; refinance is limited to Rupee loans for capital expenditure and to loans outstanding with the financing bank; applications via Authorised Dealer Category I banks must include project and auditor certifications and AD confirmation of outstanding Rupee loans; AD banks shall monitor end use and domestic banks may not provide guarantees. Circulars FEMA Fri, 23 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11309