Reserve Bank's prior permission in certain cases

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..... Bank, namely: 2 (i) Remittance exceeding US$ 1,000,000 (US Dollar One million only) per 3 financial year (a) on account of legacy, bequest or inheritance to a citizen of foreign state, permanently resident outside India and (b) by a Non-Resident Indian (NRI)/Person of Indian Origin (PIO), out of the balances held in NRO ac .....

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..... y a statement of assets and liabilities of the applicant, and indicating the manner of disposal of assets; (ii) confirming that all liabilities in India including arrears of gratuity and other benefits to employees etc. of the branch/office have been either fully met or adequately provided for; (iii) confirming that no income accrui .....

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..... AO) Executive Director ****************************** Notes : 1. After the words, 'branch/office', the bracket words, '(other than project office)' has been inserted vide Notification No. 096/2003 dated 2/7/2003 2. Has been substituted vide Notification No. 097/2003 dated 8/7/2003 , Earlier substituted vide Notification No. 062/2002 dated 13/5/2002 .....

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..... egal proceedings in any Court in India are pending and there is no legal impediment to the remittance. 5. Substituted vide notification no. 217/2011 RB dated 19-1-2011 , w.e.f. 1.2.2010, before it was read as, remittance of winding up proceeds of a branch/office 1 (other than project office) in India of a person resident outside India - - statute, statutory provisions legislation, l .....

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