https://www.taxtmi.com/notifications?id=3787 The Regulations withdraw the general permission for Overseas Corporate Bodies (OCBs) to transact under FEMA, prohibit opening new accounts and new investments, require closure or conversion of specified existing accounts with repatriation or restricted disposal of balances, bar residents from borrowing from or lending to OCBs and prevent renewal of outstanding loans, while permitting limited forward contract hedges for specified existing investments and account balances and amending FEMA regulations to delete OCB references. en-us Fri, 03 Oct 2003 00:00:00 +0530 Fri, 19 Jul 2024 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=3787 The Regulations withdraw the general permission for Overseas Corporate Bodies (OCBs) to transact under FEMA, prohibit opening new accounts and new investments, require closure or conversion of specified existing accounts with repatriation or restricted disposal of balances, bar residents from borrowing from or lending to OCBs and prevent renewal of outstanding loans, while permitting limited forward contract hedges for specified existing investments and account balances and amending FEMA regulations to delete OCB references. Notifications FEMA Fri, 03 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/notifications?id=3787