Fema query - external commercial borrowing
This query is : Resolved
04 January 2012
Indian company wants take External Commercial borrowing (ECB) from foreign share holder who has equity of 50% in Indian company. Is there any requirement under Foreign exchange management act to inform to RBI about equity holding of lender in borrower company and get UIN from RBI for the same? Or Indian company should submit directly ECB form with RBI?
05 January 2012
Of course there are stringent requirements for ecb. Refer master circular on ecb.
Filing shall be through authorised dealer bank.
Cavishalshah@gmail.com
Filing shall be through authorised dealer bank.
Cavishalshah@gmail.com
05 January 2012
Vishal,
If you have filed such document with RBI about equity holding of lender in borrower company then within how many days you have received reply from RBI?
Master circular does not state any such procedure. I would appreciate if you provide under which regulation such documents to be filed?
Thanks for your earlier promt reply.
If you have filed such document with RBI about equity holding of lender in borrower company then within how many days you have received reply from RBI?
Master circular does not state any such procedure. I would appreciate if you provide under which regulation such documents to be filed?
Thanks for your earlier promt reply.
05 January 2012
Pathik, your first question seems for FDI. Pl clarify if otherwise.
Generally you get UIN in 15 days.
AS mentioned you need to submit Form ECB to AD bank along with necessary documents.
What kind of procedural hiccups are u facing?
Generally you get UIN in 15 days.
AS mentioned you need to submit Form ECB to AD bank along with necessary documents.
What kind of procedural hiccups are u facing?
05 January 2012
Vishal,
My first quetion is on ECB only and not for FDI. RBI is asking to submit such document (about equity holding of lender in borrower company taken on record by RBI) from Indian company before filling ECB form. Hence, I am stuck up in filing ECB form.
My first quetion is on ECB only and not for FDI. RBI is asking to submit such document (about equity holding of lender in borrower company taken on record by RBI) from Indian company before filling ECB form. Hence, I am stuck up in filing ECB form.
05 January 2012
OK, In case there is specific demand of RBI then you may reply to that on letterhead of the company. You need not wait for RBI reply as such.
Separately you may fill in Form ECB too.
cavishalshah@gmail.com
09920917939
Separately you may fill in Form ECB too.
cavishalshah@gmail.com
09920917939
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Can partnership firm show income under 44ad
- Banking Related Issue
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
