The Reserve Bank of India, with a view to smoothen the entire process of closure of a Liaison Office/Branch Office/Project Office (LO/BO/PO) of a foreign entity in India, has through circular dated June 12, 2014 decided to delegate the powers relating to transfer of assets of a LO/BO/PO to authorized dealer banks subject to compliance with certain stipulations.
Transfer-of-Assets-of-a-Local-Office-of-Foreign-Investor-to-WOSJV-in-India-2014
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