close

Newsroom

MGI Worldwide accountancy network member firm Kamdar Desai & Patel publish paper on the rules governing External Borrowings for Indian subsidiaries of foreign companies

19th February 2019

MGI World MGI Asia_Kamdar Desai Patel Whitepaper_518x362

India-based MGI Asia member Kamdar Desai & Patel Chartered Accountants, has published a whitepaper entitled “External Commercial Borrowings (ESB) for Indian subsidiaries of foreign companies – Now simplified”.

The Government of India has decided to rationalize the External Commercial Borrowings (ECB) framework for facilitating borrowings in India.

The relevant provisions, with respect to borrowings for Indian Companies from its parent companies, are outlined in this latest whitepaper with all the relevant changes being set out as follows:

1. Eligible Lender
2. Eligible Borrower
3. Limits of borrowing
4. Forms of ECB
5. Minimum Maturity Period
6. Equity-Liability ratio
7. All-in-cost
8. End-use restrictions
9. Reporting requirements

Kamdar Desai & Patel Chartered Accountants hope that this whitepaper is beneficial and provides a useful summary of the External Commercial Borrowings (ECB) framework.

Download the full paper HERE.

Kamdar Desai & Patel Chartered Accountants is a member of MGI Asia, which is part of MGI Worldwide accounting association and is located in Mumbai, India. Set up in 1955 and lead by senior partner Mr. Anil Kamdar, the firm is committed to the highest standards of technical knowledge in the areas of Foreign Exchange Laws, Income Tax and Corporate Laws.

For further details please visit Kamdar Desai & Patel Chartered Accountants’ member profile page HERE or visit their website HERE.

MGI Asia is part of MGI Worldwide, a top 20 ranked international accounting network with some 5,200 independent auditors, accountants and tax experts in over 260 locations around the world.

Read more on Member white papers and Asia

MGI World India landscape with text and Lehman Brown elements

China offers new VAT Tax relief for SME's and Self-Starters. MGI Worldwide member LehmanBrown International Accountants explains

20th May 2021

In his recent white paper, Dickson Leung, partner at MGI Worldwide CPAAI member firm LehmanBrown...

MGI World Blue abstract line graphic with Global IFRS Specialist Group text

Global IFRS Group reports on the Treatment of financial assets that are debt instruments under IFRS 9 ‘Financial Instruments'

16th April 2021

In this, the latest white paper from our Global IFRS Group, Jane Lowden from F.W. Smith, Riches...

MGI World HK Budget 518X362

Do you have clients with interests in Hong Kong? Read a quick summary of what the recent Hong Kong 2021/22 Budget means for your client's business

8th March 2021

Mr. Paul Chan, Financial Secretary for the Hong Kong Special Administrative Region (HKSAR),...