External Commercial Borrowings (ECB) from the foreign equity holder

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..... invited to the A.P. (DIR Series) Circular No. 5 dated August 1, 2005, as amended from time to time, relating to the External Commercial Borrowings (ECB). 2. As per the extant ECB policy, borrowings in the form of ECB cannot be utilized for general corporate purpose. 3 On a review, it has been decided to permit eligible borrowers to avail of ECB under the approval route from their foreign eq .....

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..... heir constituents and customers. 6. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (Rudra Narayan Kar) Chief General Manager-in-Charge - Circular - Trade Notice - Publ .....

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