Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2011

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....B Mumbai, the 19th January, 2011       Foreign Exchange Management (Remittance of Assets) (Amendment) Regulations, 2011 G.S.R. 199(E).-In exercise of the powers conferred by Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Remittance of Ass....

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...."7. Permission to remit winding up proceeds of branch/office (Other than Project Office) (1) A branch or office established in India by a person resident outside India may, for making remittance of its winding up proceeds, apply to the Authorised Dealer concerned supported by the following documents, namely: (A) copy of the Reserve Bank's permission for establishing the branch/office in Indi....

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....nce certificate from the Income Tax authority for the remittance; (D) confirmation from the applicant that no legal proceedings in any Court in India are pending and there is no legal impediment to the remittance; and (E)  a report from the Registrar of Companies regarding compliance with the provisions of the Companies Act,1956, incase of winding up of the office in India. (2) On co....