Annual return on Foreign Liabilities and Assets Reporting by Indian Companies – Revised format.

Annual return on Foreign Liabilities and Assets reporting: electronic submission required annually; AD banks must notify constituents.

The circular requires Indian companies with inbound or outbound foreign investment to submit an annual return on Foreign Liabilities and Assets using a revised electronic form with guidance and validations available on the central bank website; the form must be filled, validated and e-mailed by the prescribed annual deadline. Authorised Dealer Category I banks must notify constituents; amendments to applicable foreign exchange regulations will follow. Directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to other legal approvals.