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EXTERNAL COMMERCIAL
BORROWINGS |
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| S.No. |
Particulars |
Observations |
Comments |
Remarks |
| 1 |
Whether
the transaction falls under Automatic Route |
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If
not, approval from RBI required |
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| 2 |
Does
the foreign lender holds minimum paid up equity of 25% in case of ECB upto 5
million USD |
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All
outstanding ECB(s) including proposed ECB to be calculated |
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| 3 |
Does
the foreign lender holds minimum paid up equity of 25% and ECB Deby Equity
ratio not exceeding 4:1,in case of ECB more than 5 million USD |
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All
outstanding ECB(s) including proposed ECB to be calculated |
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| 4 |
Is
the ECB from indirect equity holders |
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If
yes, atleast 51% holding in the Indian Company required |
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| 4 |
Whether
the ECB proceeds repatriated to India |
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| A |
Certain Condition for raising ECB |
| 1 |
Maximum
Amount of ECB which can be raised by a corporate other than those in hotel,
hospital and software sectors and corporates in miscellaneous service sector. |
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upto
USD 750 million or equivalent during a FY |
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| 2 |
Corporates
in Service Sector viz. hotels, hospital and software sector and miscellaneous
service sector. |
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upto
USD 200 million or its equivalent in a FY for permissible end used |
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| 3 |
NGOs
engaged in micro finance activities and Micro Finance Institutions |
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upto
10 million USD |
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| 4 |
NBFC(s)-Infrasructure
Finance Companies |
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upto
75% of their owned funds, hedging 75% of their currency risk exposure |
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| 5 |
NBFC(s)-Asset
Finance Companies |
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upto
75% of their owned funds, max. of USD 200 million per FY, min maturity of 5
years, hedging full currency risk |
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| 6 |
SIDBI |
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upto
USD 20 million |
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| B |
Documents required by Overseas Organisation/
Individual |
| a) |
Due
Diligence Certificate from an overseas bank |
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Should
be adhering to the Financial Action Task Force Guidelines |
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| b) |
Audited
Statement of Accounts |
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| c) |
Income
Tax Returns |
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| d) |
Signed
Loan Agreement |
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| B1 |
Other Documents |
| a) |
NOC
from bank for creation of charge |
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| b) |
Loan
Registartion number obtained from RBI |
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| c) |
Copy
of BR for issue of corporate guarantee from the company issuing such
guarantee |
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| d) |
Copy
of form FC-GPR |
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In
case of conversion of ECB into equity |
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| e) |
Form
ECB-2 |
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within
7 working days to the close of month to which it relates |
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| h) |
Copy
of Form 83 |
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For
allotment of LRN |
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| i) |
CTC(s)
of the meetings for allotment of equity shares |
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| j) |
Bank
Details |
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