Hello Dear members,
My Company has some outstanding import (Capital Items) payments, which we want to pay out of a fresh ECB from one of our foreign shareholder. For example: we have an outstanding amount Rs. 20 crores upto April 2013. we are planning to get an ECB for Rs. 20 crores to repay the outstanding amount. These capital items were imported and used in modernisation and expansion of our existing plant.
I herewith seek your view on whether the outstanding payments can be paid from the proceeds of a fresh ECB.
Thanks & Regards,
Satya
