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    <title>Payment of Guarantee Fee for ECB Proceedings</title>
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    <description>Whether a foreign parent may furnish a guarantee for a wholly-owned Indian subsidiary&#039;s External Commercial Borrowings under the Automatic Route; whether payment of a guarantee fee to the parent forms part of the all-in-cost of the ECB; and what uses are permitted for any balance remaining in ECB proceeds after capital expenditure - the query cites Master Circular 12/2012-13 dated 02-07-2012 but records that that circular did not resolve these specific questions.</description>
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