borrowing commercial external
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Dear Members,
Regulation 9 ,requires a listed entity to frame a policy for preservation of documents approved by its board of directors, classifying them into the documents that can be preserved permanently or can be preserved for a period of not less than eight years after completion of the relevant transactions. What types of documents are covered under this regulation??
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Hi Ruchi!
Under the External Commercial Borrowings (ECB) Policy, RBI has prescribed certain restrictions on the use of ECB.
The Negative list, for which the ECB proceeds cannot be utilised, would include the following:-
a) Real Estate Activities;
b) Investment in Capital Market;
c) Equity Investment;
d) Working capital purposes except from foreign equity holder.
e) General Corporate purposes except from foreign equity holder.
f) Repayment of Rupees Loans except from foreign equity holder;
g) on-lending to entities for the above activities.
Therefore, ECB cannot be availed of for making equity investment either directly or indirectly (through purchase of goodwill).
Hope it is clear!
Thanks!