FEMA
This query is : Resolved
Rishi Vyas
(Querist)
04 June 2011
ECB guidelines prescribe the permitted and prohibited end-uses of the funds raised through ECB. As per the guidelines the funds can be parked in monetary instruments abroad.
My question is whether the funds can be parked in short term FDs (10 to 70 days) in domestic (Indian) banks?
Regards
Rishi
My question is whether the funds can be parked in short term FDs (10 to 70 days) in domestic (Indian) banks?
Regards
Rishi
CA Sumat Singhal
(Expert)
06 June 2011
Utilization of ECB is not permitted for on lending or investment in capital market or acquiring a company real estate, working capital, general corporate purpose and repayment of existing rupees loan....
So i think it is permissible
Sumat Singhal
So i think it is permissible
Sumat Singhal
CA Sumat Singhal
(Expert)
06 June 2011
Utilization of ECB is not permitted for on lending or investment in capital market or acquiring a company real estate, working capital, general corporate purpose and repayment of existing rupees loan....
So i think it is permissible
Sumat Singhal
So i think it is permissible
Sumat Singhal
CA Sumat Singhal
(Expert)
06 June 2011
Utilization of ECB is not permitted for on lending or investment in capital market or acquiring a company real estate, working capital, general corporate purpose and repayment of existing rupees loan....
So i think it is permissible
Sumat Singhal
So i think it is permissible
Sumat Singhal
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