Overseas direct investment compliance: ensure annual performance reports are filed and banks verify APR submission before transactions. Overseas direct investments by Indian parties and resident individuals require annual submission of an Annual Performance Report (APR) in prescribed Form ODI for each overseas JV/WOS. AD Category I banks must check with their nodal office that all APRs for an applicant have been filed before facilitating any ODI transactions; resident individuals may self certify APRs; where multiple investors exist the largest stakeholder or a designated entity must ensure APR submission; APRs should be based on the latest audited accounts and non compliance will be treated as contravention of the FEMA notification.
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.
Overseas direct investment compliance: ensure annual performance reports are filed and banks verify APR submission before transactions.
Overseas direct investments by Indian parties and resident individuals require annual submission of an Annual Performance Report (APR) in prescribed Form ODI for each overseas JV/WOS. AD Category I banks must check with their nodal office that all APRs for an applicant have been filed before facilitating any ODI transactions; resident individuals may self certify APRs; where multiple investors exist the largest stakeholder or a designated entity must ensure APR submission; APRs should be based on the latest audited accounts and non compliance will be treated as contravention of the FEMA notification.
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