Checklist for ECB's
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monika singhal
Apr 15, 2011, 5:21:57 AM4/15/11
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Dear All,
Kindly provide me the checklist or the list of the documents required for the purpose for bringing the external commercial Borrowings in India.
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monika singhal
monika singhal
CS Arvind
Apr 15, 2011, 7:18:33 AM4/15/11
to CSMysore
Dear Monika,
Please identify the purpose of ECB and under what route (automatic/
approval) it would fall. If it requires approval of RBI then apply to
RBI, Mumbai with detailed project plan and report in Form ECB. In this
course you would need the following documents:
1. Letter of intent (LOI) from overseas financial institution.
2. Company's acceptance of LOI.
3. Detailed project report for ECB with projected financials.
4. Note as how the ECB would add to the business of the company.
5. Designated Authorised Dealer through which various applications/
forms; e.g.form83, ECB1,ECB2 etc. may be applied.
6. Copy of resolution of the Board with other company documents like
Annual report, MOA/AOA,etc.
7. Post execution of laon agreement, file charge docs with Roc as per
the Companies Act,1956.
When ECB is sanctioned by overseas lender and final sanction letter is
received, fulfill all requirements under "condition precedents" of the
loan agreement. You may have to obtain legal opinion from law firm
w.r.t. ECB along with CA and CS certification at various stages.
Form 83 needs to be filed to obtain Loan registration number(LRN)
without which disbursement of loan will not happen. Once LRN is
intimated to overseas banker, funds would be transferred to company's
account.
Members may correct/add on to this.
Regards--- Arvind
Please identify the purpose of ECB and under what route (automatic/
approval) it would fall. If it requires approval of RBI then apply to
RBI, Mumbai with detailed project plan and report in Form ECB. In this
course you would need the following documents:
1. Letter of intent (LOI) from overseas financial institution.
2. Company's acceptance of LOI.
3. Detailed project report for ECB with projected financials.
4. Note as how the ECB would add to the business of the company.
5. Designated Authorised Dealer through which various applications/
forms; e.g.form83, ECB1,ECB2 etc. may be applied.
6. Copy of resolution of the Board with other company documents like
Annual report, MOA/AOA,etc.
7. Post execution of laon agreement, file charge docs with Roc as per
the Companies Act,1956.
When ECB is sanctioned by overseas lender and final sanction letter is
received, fulfill all requirements under "condition precedents" of the
loan agreement. You may have to obtain legal opinion from law firm
w.r.t. ECB along with CA and CS certification at various stages.
Form 83 needs to be filed to obtain Loan registration number(LRN)
without which disbursement of loan will not happen. Once LRN is
intimated to overseas banker, funds would be transferred to company's
account.
Members may correct/add on to this.
Regards--- Arvind
monika singhal
Apr 15, 2011, 7:24:51 AM4/15/11
to csmy...@googlegroups.com
hey,
My comapny is a foreign joint vemture and it further wants to bring the ECB in india from some foreign bank or FII for setting up a new project..
We are bringing 60 crores.
Kindly guide.
Monika
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monika singhal
CS Arvind
Apr 15, 2011, 8:17:02 AM4/15/11
to CSMysore
Please refer to the master circular on ecb and trade credits on the
website of RBI and evaluate aspects related to ECB and your company.
link: http://rbidocs.rbi.org.in/rdocs/notification/PDFs/27ECB010709_F.pdf
> monika singhal- Hide quoted text -
>
> - Show quoted text -
website of RBI and evaluate aspects related to ECB and your company.
link: http://rbidocs.rbi.org.in/rdocs/notification/PDFs/27ECB010709_F.pdf
>
> - Show quoted text -
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