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 Montage with elements from the flags of China and Korea

MGI Worldwide CPAAI firms continue to have a voice in international publications! In the latest edition of the IAB, our members in China and Korea contribute to key articles

7th September 2021

As a top-ranking global network, it is great to see MGI Worldwide CPAAI members continuing to...

MGI World Handshake between Australia and india flags painted on hands

Member firms in Australia and India comment on SME loans, tax reforms, and regulatory changes in the July edition of the IAB

3rd August 2021

The July edition of the International Accounting Bulletin (IAB) has been published in which member...

MGI World Joe Tarasco's quote and picture over graphic background

See how MGI Worldwide CPAAI member firms in North America and India are working together to overcome the CPA talent shortage

30th July 2021

The accounting industry in North America continues to face an ongoing shortage of qualified...