Remittance of winding up proceeds: documentary and compliance requirements govern closure of branch or liaison offices in India. Closure of a branch or liaison office requires submission to an Authorised Dealer Category I bank of documents including approval for establishment, an auditor's certificate showing computation and disposal of remittable amounts with assets and liabilities, confirmation that Indian liabilities and employee benefits are met or provided for, certification that no external income remains unrepatriated, applicant confirmation of no legal impediments, and a Registrar compliance report where winding up; remittance of proceeds is governed by foreign exchange remittance guidelines.
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Provisions expressly mentioned in the judgment/order text.
Remittance of winding up proceeds: documentary and compliance requirements govern closure of branch or liaison offices in India.
Closure of a branch or liaison office requires submission to an Authorised Dealer Category I bank of documents including approval for establishment, an auditor's certificate showing computation and disposal of remittable amounts with assets and liabilities, confirmation that Indian liabilities and employee benefits are met or provided for, certification that no external income remains unrepatriated, applicant confirmation of no legal impediments, and a Registrar compliance report where winding up; remittance of proceeds is governed by foreign exchange remittance guidelines.
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