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

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....alers 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 Indian corporates to become global players by facilitating their....

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....IR 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 constituents concerned. 7. The directions contained in this circul....