On a review, it has been decided to allow Indian companies, vide
circular no.RBI/2011-12/617 A. P. (DIR Series) Circular No. 134, 25th
June, 2012 to avail of ECBs for repayment of Rupee loan(s) availed of from the domestic banking system and / or for fresh Rupee capital expenditure, under the approval route, subject to them satisfying the following conditions:-
Link for Notification
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Only companies in the manufacturing and infrastructure sector will be eligible to avail of such ECBs;
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Such companies shall be a consistent foreign exchange earner during the past three financial years;
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Such companies are not in the default list/caution list of the Reserve Bank of India; and
- Such ECBs shall only be utilized for repayment of the Rupee loan(s) availed of for 'capital expenditure' incurred earlier and are still outstanding in the books of the domestic banking system and / or for fresh Rupee capital expenditure.
Link for Notification
Hi,Silent Partners consist of minimum 4 shareholders that will not be responsible for the debts of the company with Incorporation in Qatar except to the extent of their shares in the capital.Thanks....
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