Investor Presentaiton
Mode of Payment & Repatriation
• Where the capital instruments are not issued within 60 days from the
date of receipt of the consideration the same shall be refunded to the
person concerned by outward remittance through banking channels or
by credit to his NRE/ FCNR(B) accounts, within 15 days from the date
of completion of sixty days.
•
Prior approval of the RBI shall be required for payment of interest, if
any, as laid down in the Companies Act, 2013, for delay in refund of the
amount so received.
• An Indian company issuing capital instruments under this Schedule
may open a foreign currency account with an Authorised Dealer
Remittance of sale proceeds
• The sale proceeds (net of taxes) of the capital instruments may be
remitted outside India or may be credited to the NRE/ FCNR(B) of the
person concerned.
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