Establishment of branch offices in SEZs permitted for foreign companies where full FDI allowed, subject to stand alone and compliance conditions. General permission is granted to foreign companies to establish branch offices or units in Special Economic Zones for manufacturing and services where full foreign direct investment is permitted and Part XI of the Companies Act is complied with. Such units must operate on a stand-alone basis confined to the SEZ and, on winding-up, must present to an Authorised Dealer an auditor's certificate addressing remittable amounts and liabilities, a tax clearance certificate, and confirmation of absence of legal impediments to remittance.
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Provisions expressly mentioned in the judgment/order text.
Establishment of branch offices in SEZs permitted for foreign companies where full FDI allowed, subject to stand alone and compliance conditions.
General permission is granted to foreign companies to establish branch offices or units in Special Economic Zones for manufacturing and services where full foreign direct investment is permitted and Part XI of the Companies Act is complied with. Such units must operate on a stand-alone basis confined to the SEZ and, on winding-up, must present to an Authorised Dealer an auditor's certificate addressing remittable amounts and liabilities, a tax clearance certificate, and confirmation of absence of legal impediments to remittance.
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