https://www.taxtmi.com/news?id=454 Borrowers in the services sector, specifically hotels, hospitals and software companies, are now permitted to obtain External Commercial Borrowings for the import of capital goods under the approval route rather than the automatic route, subject to a specified ceiling. This amendment takes effect upon issuance of regulatory notification or directions under the Foreign Exchange Management Act, 1999 and retains supervisory oversight through an approval requirement. en-us Sun, 01 Jun 2008 07:43:00 +0530 Mon, 23 Jun 2008 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=454 Borrowers in the services sector, specifically hotels, hospitals and software companies, are now permitted to obtain External Commercial Borrowings for the import of capital goods under the approval route rather than the automatic route, subject to a specified ceiling. This amendment takes effect upon issuance of regulatory notification or directions under the Foreign Exchange Management Act, 1999 and retains supervisory oversight through an approval requirement. News - Sun, 01 Jun 2008 07:43:00 +0530 https://www.taxtmi.com/news?id=454