Remittance on winding up of companies

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....agement (Remittance of Assets) Regulations, 2000, in terms of which unless otherwise provided in the Act or rules or regulations no person whether a resident in India or not, shall make remittance of any assets held in India by him or any other person except with the permission of the Reserve Bank. Therefore, as per the existing provisions, remittance of out of the assets of Indian companies under....

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....ry-I bank shall ensure that the remittance is in compliance with the order issued by a court in India / order issued by the official liquidator or the liquidator in the case of voluntary winding up ; and (ii) no remittance shall be allowed unless the applicant submits :- (a) No objection or Tax clearance certificate from Income Tax authority for the remittance. (b) Auditor's certificate c....