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V.S. Datey on Companies Act, 2013
  • Overseas Subsidiary as Body Corporate

    by Kamal on Friday, November 30, 2018 at 04:14 PM

    We are planning to remit some advance for incorporation of subsidiary outside India. Whether any approval from RBI is required for such remittance. We are in tender Invitation stage but incorporation of subsidiary may take some time hence we are inviting tender from the Indian Company. Whether we can issue award letter from subsidiary at a later stage. If yes what conditions need to be put under tender to avoid any issue under Indian law later on.

    Replied byV.S. Datey Saturday, December 01, 2018 at 09:13 AM

    if the proposed activity is under automatic route, u can remit the amount with permission of your Bank about letter from subsidiary at later stage, this is matter of contract V S Datey

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