Nostro account 'Tom' funding: extended application submission time under foreign exchange controls permits later filing before value date. Authorised dealers may book transactions in their ACU Dollar (Nostro) accounts on a 'Tom' settlement basis by submitting applications to the Department of External Investments and Operations at the Central Office in Mumbai; the submission deadline for such applications is extended to 4 p.m. on the business day preceding the value date, replacing the earlier 3 p.m. requirement.
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.
Nostro account 'Tom' funding: extended application submission time under foreign exchange controls permits later filing before value date.
Authorised dealers may book transactions in their ACU Dollar (Nostro) accounts on a 'Tom' settlement basis by submitting applications to the Department of External Investments and Operations at the Central Office in Mumbai; the submission deadline for such applications is extended to 4 p.m. on the business day preceding the value date, replacing the earlier 3 p.m. requirement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.