ECB Proceeds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2011 ECB proceeds are received in india, but before the end-use. Can i deposit those proceeds in banks as an FD till the time of end-use?

Please reply immediately.

Thanks and regards in advance.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
Follow

23 September 2011 What is the end use and till what time you intend to keep the funds in FD?????????????

If the period of FD is say short i.e less than 3 months then I think there should be no issue.

Anuj
+91-9810106211
femaquery@gmail.com

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2011 Dear Sir,

End use is for operating activities of the Company and for the period of FD I feel the Company may not utilise the same in the short run.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
Follow

06 December 2011 Indian companies are not allowed to have ECB's for operating activities .

Also i sincerely hope that UIN has been obtained from RBI.

Anuj
+91-9810106211
femaquery@gmail.com

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now