Reserve bank prior permission in certain cases

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..... Assets) Regulations, 2016 Permission for remittance of assets on closure or remittance of winding up proceeds of branch office/ liaison office (other than project office) (1) A branch or office established in India by a person resident outside India may, for making remittance of assets on closure or remittance of its winding up proceeds, apply to the Authorised Dealer concerned supported by t .....

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..... nts stipulated by the Reserve Bank of India from time to time regarding functioning of such offices in India. (C) A confirmation from the applicant that no legal proceedings are pending in any Court in India and there is no legal impediment to the remittance; and (D) A report from the Registrar of Companies regarding compliance with the provisions of the Companies Act, 2013, in case of winding .....

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..... balances held in NRO accounts or; * sale proceeds of assets or; * the assets acquired by way of inheritance or; * legacy. * (ii) Remittance to a person resident outside India on the ground that hardship will be caused to such a person if remittance from India is not made; (2) On consideration of the application made under sub-regulation (1), the Reserve Bank may permit the remittance, sub .....

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