External Commercial Borrowings (ECB) for Overseas Direct Investment/Mergers and Acquisitions

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....o. 75 February 23, 2004 To All Authorised Dealers in Foreign Exchange Madam / Sirs, External Commercial Borrowings (ECB) for Overseas Direct Investment/Mergers and Acquisitions Authorised Dealers' attention is invited to the revised External Commercial Borrowings (ECB) guidelines issued vide A.P. (DIR Series) Circular No.60 dated January 31, 2004. 2. With a view to enable Indi....

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....DIR Series) Circular No. 42 dated December 06, 2003 and A.P.(DIR Series) Circular No.57 dated January 13, 2004. 4. It may be noted that the ECB proceeds should be parked overseas until its utilisation for investment abroad. 5. The above amendments to ECB Policy will come into force with immediate effect. 6. Authorised Dealers may bring the contents of this Circular to the notice of their ....