FEMA

This query is : Resolved 

04 June 2011 ECB guidelines prescribe the permitted and prohibited end-uses of the funds raised through ECB. As per the guidelines the funds can be parked in monetary instruments abroad.

My question is whether the funds can be parked in short term FDs (10 to 70 days) in domestic (Indian) banks?

Regards
Rishi



06 June 2011 Utilization of ECB is not permitted for on lending or investment in capital market or acquiring a company real estate, working capital, general corporate purpose and repayment of existing rupees loan....
So i think it is permissible
Sumat Singhal

06 June 2011 Utilization of ECB is not permitted for on lending or investment in capital market or acquiring a company real estate, working capital, general corporate purpose and repayment of existing rupees loan....
So i think it is permissible
Sumat Singhal


06 June 2011 Utilization of ECB is not permitted for on lending or investment in capital market or acquiring a company real estate, working capital, general corporate purpose and repayment of existing rupees loan....
So i think it is permissible
Sumat Singhal



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries