Reporting of Remittances: Form ODI Part II mandates source-wise disclosure and bank certification of compliance for overseas investment. Form ODI (Part II) requires detailed disclosure of remittance sources and instruments (EEFC, market purchases, ADR/GDR, swaps, ECB/FCCB, capitalization, ... Summary
Reporting of Remittances: Form ODI Part II mandates source-wise disclosure and bank certification of compliance for overseas investment.
Form ODI (Part II) requires detailed disclosure of remittance sources and instruments (EEFC, market purchases, ADR/GDR, swaps, ECB/FCCB, capitalization, guarantees), company identification and currency, and specification of dues capitalized. The authorised dealer bank must confirm the remittance was allowed under the Automatic Route via statutory auditor certification or made per regulatory approval, and that invoked guarantee payments conform to guarantee terms, with signature, contact details and stamp validating the report.
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