Withdrawal of general permission for Overseas Corporate Bodies changes permitted foreign exchange transactions and compliance obligations. The Regulations withdraw the general permission previously available to Overseas Corporate Bodies (OCBs) for foreign exchange transactions, requiring that such transactions now be governed by any specific permissions or separate approval regimes under the Foreign Exchange Management framework.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Withdrawal of general permission for Overseas Corporate Bodies changes permitted foreign exchange transactions and compliance obligations.
The Regulations withdraw the general permission previously available to Overseas Corporate Bodies (OCBs) for foreign exchange transactions, requiring that such transactions now be governed by any specific permissions or separate approval regimes under the Foreign Exchange Management framework.
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