https://www.taxtmi.com/circulars?id=2143 Overseas direct investment in Bhutan is permitted in freely convertible currencies in addition to Indian Rupees, and all dues and sale or winding-up proceeds from such investments must be repatriated to India in freely convertible currencies; direct investments in Nepal remain permissible only in Indian Rupees. The change is effected by an amendment to the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, and Authorised Dealer banks are required to inform their constituents; the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act without prejudice to other statutory permissions. en-us Mon, 29 Aug 2005 00:00:00 +0530 Fri, 03 Oct 2008 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2143 Overseas direct investment in Bhutan is permitted in freely convertible currencies in addition to Indian Rupees, and all dues and sale or winding-up proceeds from such investments must be repatriated to India in freely convertible currencies; direct investments in Nepal remain permissible only in Indian Rupees. The change is effected by an amendment to the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, and Authorised Dealer banks are required to inform their constituents; the directions are issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act without prejudice to other statutory permissions. Circulars FEMA Mon, 29 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2143