Multiple accounts by liaison or branch offices require prior regulatory permission through an authorised bank with justification. Liaison, branch and project offices of foreign entities cannot open more than one account in India unless they obtain prior regulatory permission through their authorised bank intermediary, providing justification for the additional account as part of the compliance requirement.
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.
Multiple accounts by liaison or branch offices require prior regulatory permission through an authorised bank with justification.
Liaison, branch and project offices of foreign entities cannot open more than one account in India unless they obtain prior regulatory permission through their authorised bank intermediary, providing justification for the additional account as part of the compliance requirement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.