Solomon & Co. is a full-service law firm headquartered in Mumbai, the financial and commercial capital of India, with offices in Mumbai and Pune. Founded in 1909, the firm is ranked amongst the most reputed law firms in the country.
The firm provides high-value legal services across a broad range of practice areas, including Corporate, Mergers and Acquisitions, Business and Trade, Banking and Finance, Capital Markets, India entry, Private Equity, Dispute Resolution, Real Estate and Construction, Insurance and Intellectual Property. Since its inception, Solomon & Co. has been advising Indian and international companies, government organizations and individuals on their most challenging transactions. Our clients range from global banks, investment funds and high net-worth individuals to not-for-profit organizations. Solomon & Co. is a member of Alliott Global Alliance in Mumbai, Pune and Goa.
By a circular dated 1 January 2015, the Reserve Bank of India has permitted Authorised Dealer Category-I banks to allow the creation of (i) charges on immovable and movable assets, (ii) charges over financial securities and (iii) issue of corporate or personal guarantees in favour of overseas lenders to secure External Commercial Borrowings (ECB) raised by borrowers.
By a circular dated 1 January 2015, the Reserve Bank of India
has permitted Authorised Dealer Category-I banks to allow the
creation of (i) charges on immovable and movable assets, (ii)
charges over financial securities and (iii) issue of corporate or
personal guarantees in favour of overseas lenders to secure
External Commercial Borrowings (ECB) raised by borrowers,
subject to the satisfaction of certain conditions.
The choice of security to be provided to the overseas lender for
securing the ECB was previously left to the borrower, so the 1
January 2015 circular brings clarity by setting out
the available options regarding charges which may be created
and consolidating various provisions related to the creation
of such charges.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
