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Maintenance of foreign currency account abroad by a company/firm/a body corporate registered or incorporated in India

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.... 29, 2002 To, All Authorised Dealers in Foreign Exchange Madam/Sirs, Maintenance of foreign currency account abroad by a company/firm/a body corporate registered or incorporated in India Attention of authorised dealers is invited to the Reserve Bank Notification No.FEMA.10/2000-RB dated 3rd May 2000 relating to Foreign Exchange Management (Foreign Currency Accounts by a person resident in Ind....

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.... branch/ representative should not create any financial liabilities contingent or otherwise for Head Office in India. ii. The overseas office (trading/non-trading)/ branch /representative should not invest surplus funds abroad without prior approval of Reserve Bank of India. Any funds rendered surplus should be repatriated to India. iii. The overseas office/branch of software exporter company/....

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