Further, in terms of the circular dated April 22, 2014, it was advised that utilisation of export advances, received on the strength of guarantees issued by Indian banks, for repayment of loans availed of from Indian banks (except in cases where banks have received
We have been receiving representations from banks that, in the case of projects which have been stalled primarily due to inadequacies of the current promoters, a change in ownership/management may be required to revive the project. However, the new promoters/developers may require additional time to revive/complete the stalled projects.
