TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Aircraft, engine and helicopter operating lease guarantees by Indian importers allowed for FEMA compliance, subject to co-terminus guarantees, board authorization</h1> Authorises AD Category-I banks to convey 'no objection' under FEMA for Indian importers to issue corporate guarantees in favour of overseas lessees for operating leases of aircraft, aircraft engines or helicopters, subject to obtaining a board resolution specifying authorised signatories and ensuring each guarantee is co-terminus with the lease period; the operative effect is that such guarantees are permitted from the foreign-exchange angle only. The permission expressly does not constitute approval under other statutory/regulatory regimes, does not validate any contraventions, must be communicated as limited to FEMA compliance, is effective immediately and is subject to review.
TaxTMI 
TaxTMI 
