Obligations of the Indian Party

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....he Indian Party or the date on which the amount due was allowed to be capitalised; (ii) repatriate to India, all dues receivable from the foreign entity, like dividend, royalty, technical fees etc., within 60 days of its falling due, or such further period as the Reserve Bank may permit; ^1[Provided that in the case of investment in securities in Bhutan made in freely convertible currency, all dues receivable thereon as are repatriable, including those on account of disinvestment/ dissolution/ winding up, shall be realised and repatriated in freely convertible currency only.] ^7[(iii) submit to the Reserve Bank, through the designated Authorised Dealer, every year on or before a specified date, an Annual Performance Report (APR) in....

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....been adopted and ratified by the Board of the Indian party.] ^9[(c) The above exemption from filing the APR based on unaudited balance sheet will not be available in respect of JV/WOS in a country / jurisdiction which is either under the observation of the Financial Action Task Force (FATF) or in respect of which enhanced due diligence is recommended by FATF or the any other country/jurisdiction as prescribed by Reserve Bank of India. Explanation - It will be in order for individual partners to hold shares for and on behalf of the firm in an overseas JV/WOS in the individual name if the host country regulations or operational requirements warrant such holdings, subject to the condition that the entire funding for such investment....

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....d other reports or documents as may be specified by the Reserve Bank from time to time." 4. Inserted vide Notification No. FEMA 249/RB-2012, dated 22-11-2012, w.e.f. 15-03-2011. 5. Inserted vide Notification No. 277/2013-RB dated 08-05-2013, w.e.f. 28-03-2012. 6. Corrected vide Corrigendum - No. 1/37/EM/2012 - G.S.R. 112(E) dated 05-02-2014, before it was read as, "^5[(iv) Where the law of the host country does not mandatorily require auditing of the books of accounts of JV / WOS, the Annual Performance Report (APR) as referred to under sub-regulation (iii) may be submitted by the Indian party based on the un-audited annual accounts of the JV / WOS provided: 1. The Statutory Auditors of th....