TMI BlogRegularization of Liaison / Branch Offices of foreign entities established during the pre-FEMA periodX X X X Extracts X X X X X X X X Extracts X X X X ..... Attention of Authorised Dealer Category I (AD Category-I) banks is invited to Notification No. FEMA 22/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Establishment in India of Branch or Office or other Place of Business) Regulations, 2000, as amended from time to time, read with A.P. (DIR Series) Circular Nos. 23 and 24 dated December 30, 2009, in terms of which a person ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Foreign Exchange Management Act (FEMA), 1999 came into force from June 1, 2000. Under the provisions of FEMA, 1999, ibid, the request of such entities to open an office in India is considered by the Reserve Bank in consultation with the Government of India, wherever required. 3. Accordingly, the foreign entities who have established LO or BO in India and continuing to function without obt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bank where the account of such LO /BO is maintained. 6. AD Category - I banks may bring the contents of this circular to the notice of their constituents/ customers concerned and forward such application/ request to the Reserve Bank, after complying with the instructions contained in A.P. (DIR Series) Circular Nos. 23 and 24 dated December 30, 2009. Further, they may also ensure that their ..... X X X X Extracts X X X X X X X X Extracts X X X X
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