10 Aug 2019
Key Changes In External Commercial Borrowings Policy And Companies Amendment Act, 2019
The Reserve Bank of India recently relaxed the End use stipulations under External commercial borrowings framework for corporates and non banking financial companies (NBFCs). Also the Companies (Amendments) Act 2019 has been notified on july 31, 2019. On one hand the Amendment retains most changes brought about by the Ordinance to rationalize penalties and the ease compliance burden on businesses and on the other, the amendment also retains the Crackdown provisions on Black Money and Shell companies.