Monthly summary of foreign currency notes: itemised purchases, purpose coded sales, computed closing balance, and official certification. Form FLM 8 compels Authorised Dealer Category II entities to record monthly foreign currency note transactions by currency, showing opening balance, purchases from public, RMCs/FFMCs/ADs and agents, aggregated total purchases, and sales classified by specified purpose codes leading to a total sales figure; the closing balance is computed as opening balance plus total purchases minus total sales, and the statement must be certified by an authorised official in accordance with Exchange Control Regulations.
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.
Monthly summary of foreign currency notes: itemised purchases, purpose coded sales, computed closing balance, and official certification.
Form FLM 8 compels Authorised Dealer Category II entities to record monthly foreign currency note transactions by currency, showing opening balance, purchases from public, RMCs/FFMCs/ADs and agents, aggregated total purchases, and sales classified by specified purpose codes leading to a total sales figure; the closing balance is computed as opening balance plus total purchases minus total sales, and the statement must be certified by an authorised official in accordance with Exchange Control Regulations.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.