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?
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?
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.
CAclubindia
