Fema- guarantee by indian company
This query is : Resolved
03 November 2011
Facts of the case:
1. ABC Private Limited has availed a working capital facility of Rs.500 million from Indian Bank.
2. ABC's holding Company XYZ holding 51% Equity (a Foreign Company) gave Corporate Guarantee to Indian Bank towards the Working Capital Facility extended to ABC Private Limited
3. EDF Limited (a listed indian Company) holding 49% of ABC Private Limited gives Counter Guarantee to XYZ (foreign Company) to the extent of 49% to secure the working capital facility
Please let me know the compliances under RBI to by made by EDF Limited / ABC Private Limited
Thanks
1. ABC Private Limited has availed a working capital facility of Rs.500 million from Indian Bank.
2. ABC's holding Company XYZ holding 51% Equity (a Foreign Company) gave Corporate Guarantee to Indian Bank towards the Working Capital Facility extended to ABC Private Limited
3. EDF Limited (a listed indian Company) holding 49% of ABC Private Limited gives Counter Guarantee to XYZ (foreign Company) to the extent of 49% to secure the working capital facility
Please let me know the compliances under RBI to by made by EDF Limited / ABC Private Limited
Thanks
14 November 2011
Please give reply to my query i want the same urgently
Mahesh Kulkarni
Mahesh Kulkarni
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