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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
