Corporate Updates – 08-12-2015


RBI has issued Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2015 which shall come into force from the date of their publication in the Official Gazette. the Reserve Bank may, in consultation with the Government of India, prescribe for the automatic route, any provision or proviso regarding various parameters or any other parameter as prescribed by the Reserve Bank and also prescribe the date from which any or all of the existing proviso will cease to exist, in respect of borrowings from overseas, whether in foreign currency or Indian Rupees, such as addition / deletion of borrowers eligible to raise such borrowings, overseas lenders / investors, purposes of such borrowings, change in amount, maturity and all-in-cost, norms regarding security, pre-payment, parking of ECB proceeds, reporting and drawl of loan, refinancing, debt servicing, etc.

Delhi Revenue Department:

Delhi Government has introduced the simplified procedure for issuance of various kind of Certificates by the Revenue Department. The simplified procedure is prescribed for implementation by all revenue authorities for all applications received from 1st December, 2015 onwards. According to the simplified procedure, no applicant would be asked to produce additional document in case the prescribed documents have already been furnished by the him. A set of prescribed application forms, required documents for various kinds of certificates and the standard operating procedure is being uploded on the e-district for guidance / clarity. These simplified procedure will come into force for all applications received from 1st December, 2015 onwards.

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