Conversion of ECB Principal and Interest into Equity Allowed Under Paragraph 7.4 of Master Direction No. 5
Yes, the current norms allow for the conversion of both the principal and interest of External Commercial Borrowings (ECB) into equity. This is subject to certain conditions outlined in Paragraph 7.4 of the Master Direction No. 5 on 'External Commercial Borrowings, Trade Credits and Structured Obligations' dated March 26, 2019.
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