Friday, February 8, 2019

RBI allows resolution applicants under CIRP to raise funds through ECBs for repayment to lenders

RBI has decided to relax the end-use restrictions on ECBs for resolution applicants under Corporate Insolvency Resolution Process and has allowed them to raise ECBs from the recognised lenders for repayment of rupee term loans of the target company under approval route. Under existing framework ECB proceeds cannot be utilised for repayment of domestic rupee loans.

from taxmann.com News http://bit.ly/2tcFIZ5
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