ECB Loan - please help
This query is : Resolved
umesh_mishra16
(Querist)
26 September 2007
Dear Friends,
We need ECB Loan from our parent company towards working capital requirement. However, bankers have denied the same saying this is not permitted by notification from RBI.
Can anyone confirm Notification details or send me copy of notification, as I have to show it to our parent company.
We need ECB Loan from our parent company towards working capital requirement. However, bankers have denied the same saying this is not permitted by notification from RBI.
Can anyone confirm Notification details or send me copy of notification, as I have to show it to our parent company.
Ravikumar.G
(Expert)
26 September 2007
As per RBI regularions working capital loan by way of EBC is not permitted. The Act itself clearly says ECB for workining Capital Loan is not permitted.
Srinath A. N.
(Expert)
08 October 2007
Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 deals with the obove said subject. Utilisation of ECB for working capital is prohibited. Also refer Master circular on ECB issued by RBI
10 November 2007
Copy of notofication is available on the website of taxmann.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- TDS on purchase of under construction property from a reseller
- Non filing of I T Returns
- TDS on Fixed Assets purchased
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
