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ECB funds as fixed deposits/liquid investments pending utilisation

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(Querist)
15 June 2022 A domestic company getting ECB (External Commercial Borrowing) from its parent company. Is it mandatory that these ECB funds needs to be compulsorily be placed as fixed deposits or can a company place them in liquid investments also pending utilisation.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
15 June 2022 Yes, it's required to be placed on fixed deposits and not on liquid funds.
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