TaxTMI 
TaxTMI 
Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Second Amendment) Regulations, 2009
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.... (RESERVE BANK OF INDIA) (FOREIGN EXCHANGE DEPARTMENT) (Central Office) NOTIFICATION Mumbai, the 17th June, 2009 No. FEMA, 194/2009-RB Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Second Amendment) Regulations, 2009 G.S.R. 547(E). - In exercise of the powers conferred by clause (d) of sub-section (3) of Section 6 and sub-section (2) of Section 47 of the Foreign E....
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.... (1).- (a) in sub-paragraph (iv) (i) for clause AA, the following shall be substituted and shall be deemed to have been substituted with effect from 29th day of May, 2008, namely:- "(AA) Borrowings in foreign exchange per borrower company per financial year up to such amounts not exceeding US Dollars 500 million or its equivalent as directed by the Reserve Bank from time to time shall be permi....
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.... The proceeds of borrowings in foreign exchange availed under the schedule may, pending utilisation for permissible end-uses be parked abroad or in India as directed by the Reserve Bank from time to time". (B) In Schedule II, in paragraph (3) in sub-paragraph (iii) (i) in sub-paragraph (A) in clause (a) for 'Explanation' the following shall be substituted and shall be deemed to have been subst....
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....owing shall be substituted and shall be deemed to have been substituted with effect from the 22nd day of October, 2008, namely :— "Parking of loan amount The proceeds of borrowings in foreign exchange availed under the schedule may, pending utilisation for permissible end-uses, be parked abroad or in India as directed by the Reserve Bank from time to time", [F. No. 1/23/EM/2006-Vol-IV] SAL....