https://www.taxtmi.com/circulars?id=11435 Non-resident holders of INR denominated ECBs may obtain hedging facilities with Authorised Dealer Category I banks using forwards, options and swaps. Customers must furnish pre deal documentation evidencing the underlying ECB, undertake that the exposure is not hedged elsewhere and that cancelled underlying exposures will trigger hedge cancellation. Hedge amount and tenor must not exceed the underlying transaction; settlement occurs via Nostro/Vostro accounts and funds are released only after sighting credits. Contracts cannot be rebooked after cancellation but may be rolled over before maturity; gains on cancellation may be passed to customers subject to a non rebooking declaration. en-us Thu, 29 Dec 2011 00:00:00 +0530 Thu, 29 Dec 2011 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11435 Non-resident holders of INR denominated ECBs may obtain hedging facilities with Authorised Dealer Category I banks using forwards, options and swaps. Customers must furnish pre deal documentation evidencing the underlying ECB, undertake that the exposure is not hedged elsewhere and that cancelled underlying exposures will trigger hedge cancellation. Hedge amount and tenor must not exceed the underlying transaction; settlement occurs via Nostro/Vostro accounts and funds are released only after sighting credits. Contracts cannot be rebooked after cancellation but may be rolled over before maturity; gains on cancellation may be passed to customers subject to a non rebooking declaration. Circulars FEMA Thu, 29 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11435