Bank account re-designation allows a liaison office upgraded to a branch office to retain the same PAN and bank account. Continuity of PAN and bank account when a liaison office is upgraded to a branch or project office is permitted only if the existing bank account is formally re-designated as a Branch/Project Office (BO) account; the account must reflect the changed office status to meet foreign exchange compliance and regulatory treatment for foreign offices.
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.
Bank account re-designation allows a liaison office upgraded to a branch office to retain the same PAN and bank account.
Continuity of PAN and bank account when a liaison office is upgraded to a branch or project office is permitted only if the existing bank account is formally re-designated as a Branch/Project Office (BO) account; the account must reflect the changed office status to meet foreign exchange compliance and regulatory treatment for foreign offices.
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