https://www.taxtmi.com/notifications?id=6337 If shares or convertible debentures are not issued within 180 days from the date of receipt of inward remittance or debit to an NRE/FCNR(B) account, the consideration received must be refunded to the person by outward remittance through normal banking channels or by credit to the person's NRE/FCNR(B) account; the Reserve Bank may, on application and for sufficient reasons, permit an Indian company to refund consideration outstanding beyond the 180 day period. en-us Tue, 13 Nov 2007 00:00:00 +0530 Sat, 04 Oct 2008 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=6337 If shares or convertible debentures are not issued within 180 days from the date of receipt of inward remittance or debit to an NRE/FCNR(B) account, the consideration received must be refunded to the person by outward remittance through normal banking channels or by credit to the person's NRE/FCNR(B) account; the Reserve Bank may, on application and for sufficient reasons, permit an Indian company to refund consideration outstanding beyond the 180 day period. Notifications FEMA Tue, 13 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/notifications?id=6337