2. It has been decided not to treat / reckon the renewal / rollover of an existing / original guarantee, which is part of the total financial commitment of the Indian party in terms of Regulation 6 of the Notification ibid, as a fresh financial commitment, provided that :
the existing / original guarantee was issued in terms of the then extant / prevailing FEMA guidelines.
there is no change in the end use of the guarantee, i.e. the facilities availed by the JV / WOS / Step Down Subsidiary;
there is no change in any of the terms & conditions, including the amount of the guarantee except the validity period;
the reporting of the rolled over guarantee would be
done as a fresh financial commitment in Part II of Form ODI, as
if the Indian party is under investigation by any
investigation / enforcement agency or regulatory body, the concerned
agency / body shall be kept informed about the same.