Foreign Exchange Management (Remittance of Assets) (Second Amendment) Regulations, 2007

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..... 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 Assets) Regulations, 2000 (Notification No. FEMA. 13/2000-RB dated May 3,2000), namely :— 1. Short Title and Commencement :— (i) These Regulations may be called the Foreign Exchange Management (Remittance of Assets) (Second Ame .....

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..... e 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 confirming that all liabilities in India have been either fully paid or ade .....

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