Payments to resident claimants by rupee cheque allowed without Reserve Bank clearance; nonresident remittances need authorised bank and permits.

Payments from a company's Liquidation Account to claimants resident in India, whether Indian or foreign nationals, shall be made by rupee cheque without referring to the Reserve Bank of India; remittances to claimants outside India must be effected through banks authorised to deal in foreign exchange after obtaining necessary exchange control permits, and payments permitted where a bank has issued an exchange control certificate authorising non resident account arrangements.

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