EXTERNAL COMMERCIAL BORROWINGS (ECB)
POLICY FOR 3G SPECTRUM ALLOCATION
Dated: 25th June 2013
As per the extant policy, the payment for spectrum allocation may
initially be met out of the Rupee resources by the successful bidders, to be
refinanced with a long term ECB, under the approval route, subject to the
condition that ECB should be raised within 12 months from the date of payment
of the final installment to the Government.
On a review it has been decided that ECB window for financing 3G
spectrum rupee loans, that are still outstanding in telecom operator’s books of
accounts, will be open upto March 31, 2014.
All other aspects of the ECB policy shall remain unchanged.
The directions contained in this circular have been issued
under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42
of 1999) and are without prejudice to permissions / approvals, if any, required
under any other law.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
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