https://www.taxtmi.com/circulars?id=52803 Eligible Indian companies are prohibited from raising External Commercial Borrowings from overseas branches or subsidiaries of Indian banks to refinance or repay Rupee loans raised from the domestic banking system, covering take-out financing, infrastructure loan repayments, spectrum-related refinancing, and general Rupee loan repayment. The prohibition implements an earlier DBOD position, is effective immediately, leaves other ECB policy aspects unchanged, and requires Authorised Dealer banks to notify constituents; directions are issued under the Foreign Exchange Management Act. en-us Fri, 09 May 2014 00:00:00 +0530 Fri, 09 May 2014 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52803 Eligible Indian companies are prohibited from raising External Commercial Borrowings from overseas branches or subsidiaries of Indian banks to refinance or repay Rupee loans raised from the domestic banking system, covering take-out financing, infrastructure loan repayments, spectrum-related refinancing, and general Rupee loan repayment. The prohibition implements an earlier DBOD position, is effective immediately, leaves other ECB policy aspects unchanged, and requires Authorised Dealer banks to notify constituents; directions are issued under the Foreign Exchange Management Act. Circulars FEMA Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52803