External Commercial Borrowings (ECB).

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....agement (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000, amended from time to time, issued vide Notification No.FEMA.120/RB-2004 dated July 7, 2004, as amended from time to time, A.P. (DIR Series) Circular No. 5 dated August 1, 2005, as amended from time to time, A.P. (DIR Series) Circular No.17 dated December 4, 2006, A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ngly, the requirement of average maturity period, prepayment and call / put options specified vide A.P. (DIR Series) Circular No.17 dated December 4, 2006 (for additional amount of USD 250 million) has been dispensed with. 4. It is also clarified that the eligible borrowers under the automatic route can raise Foreign Currency Convertible Bonds (FCCBs) up to USD 750 million or equivalent per fin....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....oned as part of the limit of USD 750 million available under the automatic route as per the extant norms. 6. All other aspects of the ECB policy, such as eligible borrower, recognised lender, all-in-cost, end-use, prepayment, refinancing of existing ECB and reporting arrangements shall remain unchanged. 7. Necessary amendments to the Foreign Exchange Management (Borrowing or Lending in ....