Establishment of Branch Offices (BO) / Liaison Offices (LO) in India by Foreign Entities - Delegation of Powers

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..... Attention of Authorised Dealer Category - I banks is invited to paragraph 5 (i) of A.P. (DIR Series) Circular No.24 dated December 30, 2009 wherein it was stipulated that the Annual Activity Certificates (AACs) as at the end of March 31, shall be submitted by the Branch Office / Liaison Office (BO/ LO), on or before April 30 every year, to the designated AD Category-I bank and a copy to the Dire .....

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..... he contents of this circular to the notice of their constituents and customers concerned. 5. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any required under any other law. Yours faithfully, (G. Jaganmohan Rao) Chief General Manager
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