Query on ECB

sumit phadnis

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Jul 6, 2010, 5:04:45 AM7/6/10

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I want to know if company can park the ECB funds in EEFC account?

CS.Omkar

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Jul 6, 2010, 5:25:48 AM7/6/10

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No. EEFC A/c cannot be given credit with Loan taken in foreign currency. Also as ECB shall be used only for permisible "End use" it is not appropriate to park the same in EEFC A/C.

Regards...Omkar

On Tue, Jul 6, 2010 at 2:34 PM, sumit phadnis <sumitp...@gmail.com> wrote:

I want to know if company can park the ECB funds in EEFC account?

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CS.Alagar

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Jul 6, 2010, 8:58:27 AM7/6/10

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Yes, it can not be parked in EEFC account. However, it can be parked in permissible liquid assets as specified in ECB guidelines in outside India still its actual use.

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