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Delegation to authorised dealers to repatriate share-purchase refunds permitted, subject to bonafide, inward-remittance and non-interest conditions. Authorised dealers are delegated authority to permit repatriation of refunds of funds received for purchase of shares in three categories-refunds on allotment, surplus from rights issues, and surplus/cancellations under ADRs/GDRs-provided dealers are satisfied with the applicant's bonafides, that the repatriation is by inward remittance or debit to an NRE/FCNR account, and that no part of the remittance is interest.
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Provisions expressly mentioned in the judgment/order text.
Delegation to authorised dealers to repatriate share-purchase refunds permitted, subject to bonafide, inward-remittance and non-interest conditions.
Authorised dealers are delegated authority to permit repatriation of refunds of funds received for purchase of shares in three categories-refunds on allotment, surplus from rights issues, and surplus/cancellations under ADRs/GDRs-provided dealers are satisfied with the applicant's bonafides, that the repatriation is by inward remittance or debit to an NRE/FCNR account, and that no part of the remittance is interest.
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