External Commercial Borrowings (ECB) Policy for 2G spectrum allocation

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..... o A.P. (DIR Series) Circular No. 26 dated October 22, 2008, para 2 (v) of A.P. (DIR Series) Circular No.19 dated December 9, 2009, A.P. (DIR Series) Circular No. 28 dated January 25, 2010 relating to External Commercial Borrowings (ECB) for spectrum allocation. 2. As per the extant policy, eligible borrowers in the telecommunication sector are permitted to avail of ECB for the purpose of payment .....

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..... ollowing conditions: the long term ECB shall be raised within a period of 18 months from the date of sanction of such Rupee loans for the stated purpose from the domestic lenders; the designated AD Category I bank has evidenced the payment of upfront fees to GoI in the form of a receipt/challan from DoT; and the designated AD - Category I bank shall monitor the end-use of funds. (ii) Relaxatio .....

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..... down of bridge finance; and the long term ECB is in compliance with all the extant guidelines on ECB. 4.The relaxations in respect of the ECB liability-equity ratio, percentage of shareholding by the ultimate parent, refinancing of Rupee loans and bridge finance are part of a special dispensation applicable only to the successful bidders in the upcoming 2G spectrum auction. 5. All other aspects .....

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