Reporting of other Transactions in ECB (powers delegated to AD Bank I)

Reporting of other Transactions in ECB (powers delegated to AD Bank I)

 

Transaction

conditions

Form

Approval/Intimation

Department

1. Changes/ Modification in the Drawdown/repayment schedule

Average maturity period as declared while obtaining LRN is maintained

Form ECB

Prior Approval of AD bank

Through AD Bank to Department of Statistics and Information Management (DSIM)  Reserve Bank of India

2. Changes in currency of borrowing

Freely convertible

Same as above

Prior Approval of AD bank

Same as above

3. Change of AD Bank

NOC from existing designated AD

Same as above

Prior Approval of AD bank

Same as above

4. Change in the name of Borrower company

ROC certificate

Letterhead of borrower

Intimation

Same as above

5. Change in Recognised lender

New lender should be as per ECB norms

Letterhead of borrower

Intimation

Same as above

6. Cancellation of LRN

No drawdown for said LRN has taken place

Letterhead of borrower

Intimation

Same as above

7. Reduction in all cost of ECB

The consent of lender has been obtained

Letterhead of borrower

Prior Approval of AD bank

Same as above

8. Change in End use of ECB proceeds

Proposed end use is permissible under the Automatic route as per ECB guidelines

Letterhead of borrower

Prior Approval of AD bank

Same as above

9. reduction in the amount of ECB

The consent of lender has been obtained

Form ECB

Prior Approval of AD bank

Same as above

10. Prepayment of ECB

MAMP is maintained

Letterhead of borrower

Prior Approval of AD bank

Same as above

 

Change in currency from INR to Foreign currency is not within AD powers

In case of Partially or Full conversion of ECB into equity, the ECB 2 return will be with suitable remarks ECB partially converted to equity or ECB fully converted to equity.

 
 
 
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