ECB Proceeds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2011 ECB proceeds are received in india, but before the end-use. Can i deposit those proceeds in banks as an FD till the time of end-use?

Please reply immediately.

Thanks and regards in advance.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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23 September 2011 What is the end use and till what time you intend to keep the funds in FD?????????????

If the period of FD is say short i.e less than 3 months then I think there should be no issue.

Anuj
+91-9810106211
femaquery@gmail.com

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

06 December 2011 Dear Sir,

End use is for operating activities of the Company and for the period of FD I feel the Company may not utilise the same in the short run.

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CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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06 December 2011 Indian companies are not allowed to have ECB's for operating activities .

Also i sincerely hope that UIN has been obtained from RBI.

Anuj
+91-9810106211
femaquery@gmail.com