Corporate Updates – 03-09-2014


As per the existing RBI guidelines refinancing of existing ECB by raising fresh ECB at lower all-in-cost is permitted subject to the condition that the outstanding maturity of the original loan is maintained. RBI has now decided to simplify the procedure by delegating powers to the AD Category – I banks to approve even those cases where the AMP of the fresh ECB is exceeding the residual maturity of the existing ECB under the automatic route subject to certain conditions. Further the said facility will also be available to existing ECBs which were raised under the approval route subject to the amount of new ECBs being eligible to be raised under the automatic route.


SEBI has been taking various measures to create awareness among investors about grievance mechanisms available to them. SEBI with an intention to protect the interest of the investor has now decided that offices of all Stock Brokers (its registered Sub-Broker(s) and Authorized Person(s)) and Depository Participants shall prominently display basic information, about the grievance redressal mechanism available to investors. The intermediaries shall take necessary steps to implement the provisions of this circular and ensure its full compliance in respect of all its offices on or before 60 days from the date of this circular.

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