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August 2013

A. P. (DIR Series) Circular No. 114 dated June 25, 2013

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
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External Commercial Borrowings (ECB) Policy for 3G spectrum allocation

Presently, payment for spectrum allocation that has been initially met out of the Rupee resources by the successful bidders can be refinanced by availing long term ECB, under the approval route, within 12 months from the date of payment of the final installment to the Government.

This circular provides that successful bidders of 3G spectrum can avail of ECB up to 31st March, 2014 for refinancing rupee loans that are still outstanding in their books of accounts.

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