Firms allowed to pledge shares to secure ECBs

摘要

The Government has exempted foreign direct investment (FDI) in buildings meant for education and old-age homes from the conditions prescribed for the construction sector. It has also amended the policy to provide for companies raising external commercial borrowings to pledge their shares for securing their ECB.The general conditions in the construction sector include a minimum area and built-up area requirement; a minimum capitalisation requirement; and a lock-in period.