NTF. NO. FEMA 256/2013-RB, DT. 06/02/2013

Foreign Exchange Management  (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2013

In exercise of the powers conferred by clause (d) of sub-section (3) of Section 6, and sub section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No.FEMA.3/2000-RB dated May 3, 2000), namely:-

1. Short title and commencement:

(a) These Regulations may be called the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) (Amendment) Regulations, 2013

(b) They shall come into force from the date of their publication in the Official Gazette.

2. Amendment of the Schedule I

In the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No.FEMA.3/2000-RB dated May 3, 2000) (hereinafter referred to as ‘the principal regulations’), in Schedule I, in paragraph (1), in sub-paragraph (i), the provision after each of the clause (a), (b) and (c) shall be substituted by the following:-

“provided in case the entity is under investigation / adjudications / appeals by the law enforcing agencies, for violation of any of the provision of the regulations under the Act, it shall indicate to the Authorized Dealers (ADs) about pendency of investigations / adjudications / appeals, while availing foreign currency borrowing.”

(Dr. Sujatha Elizabeth Prasad)
Chief General Manager-In-Charge

Foot Note:

The Principal Regulations were published in the Official Gazette vide No. G.S.R. No.386 (E) dated May 5, 2000 in Part II, Section 3, sub-section (i) and subsequently amended vide:

1. 1. No. G.S.R.674 (E) dated August 25, 2000
   2. No. G.S.R.476 (E) dated July 8, 2002
   3. No. G.S.R.854 (E) dated December 31, 2002
   4. No. G.S.R.531 (E) dated July 9, 2003
   5. No. G.S.R.533 (E) dated July 9, 2003
   6. No. G.S.R.208 (E) dated March 23, 2004
   7. No. G.S.R.825 (E) dated December 22, 2004
   8. No. G.S.R.60   (E) dated February 9, 2005
   9. No. G.S.R.739 (E) dated December 22, 2005
   10. No. G.S.R.663 (E) dated October 16, 2007
   11. No. G.S.R.61 (E) dated January 30, 2009
   12. No. G.S.R.547(E) dated July 27, 2009
   13. No. G.S.R. 836(E) dated November 23, 2009
   14. No. G.S.R.No.610 (E) dated August 03, 2012
   15. No. G.S.R.No.832(E) dated November 17, 2012
   16. No. G.S.R.No.886 (E) dated December 11, 2012
   17. No. G.S.R.No.916 (E) dated December 21, 2012