Deposits by multilateral organisations clarified under amended FEMA deposit rules to cover subsidiaries, affiliates and officials in India. The amendment substitutes Regulation 4(5) to provide that deposits held in accounts maintained with an authorised dealer by any multilateral organisation and its subsidiary/affiliate bodies and officials in India of such multilateral organisations, of which India is a member nation, are governed by the Deposit 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.
Deposits by multilateral organisations clarified under amended FEMA deposit rules to cover subsidiaries, affiliates and officials in India.
The amendment substitutes Regulation 4(5) to provide that deposits held in accounts maintained with an authorised dealer by any multilateral organisation and its subsidiary/affiliate bodies and officials in India of such multilateral organisations, of which India is a member nation, are governed by the Deposit Regulations.
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