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          FEMA

          If the subsidiary of Indian company is not financially sound can they submit a Letter of Comfort from their parent company which is an Indian company?

          Liaison / Branch / Project Offices of foreign entities in India - As on Dec 26, 2016

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          Letter of Comfort cannot substitute for required financial soundness for liaison, branch or project offices under FEMA FAQs. FEMA guidance states that a parent company's Letter of Comfort is not an acceptable substitute for demonstrable financial soundness required for liaison, branch and project offices of foreign entities in India.
                            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.

                                  Letter of Comfort cannot substitute for required financial soundness for liaison, branch or project offices under FEMA FAQs.

                                  FEMA guidance states that a parent company's Letter of Comfort is not an acceptable substitute for demonstrable financial soundness required for liaison, branch and project offices of foreign entities in India.


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