Del. HC: Denying Seat to Candidate Due to Administrative Fault Would be Unjust  ||  All. HC: Not Mandatory for Passport Authority to Impound Passport of Accused Persons  ||  Raj. HC: In Absence of Statutory Rules, Denying Appt. on Basis of Minimum Height is Discriminatory  ||  MP HC: Party Required to Lay Factual Foundation for Getting Benefit of Section 65 of Evidence Act  ||  Ker. HC: Settlement of Cases Including Offence of Rape & POCSO Act Offences is Not Permissible  ||  Gujarat High Court: Wife Allowed to Become Guardian & Manager of Husband in Coma  ||  SC: Partition of Property Can’t be Done by Metes & Bounds in Chandigarh  ||  SC Approves Requirement for Judicial Officers to be Converse With Local Language  ||  Kerala High Court: Denial of Ordinary Leave Reduces Convict’s Chances of Rehabilitation  ||  Delhi HC Issues Circular Regarding Pass-Overs or Adjournments in Bail, Parole Matters    

RBI clarifications for start-ups- (Reserve Bank of India) (11 Feb 2016)

MANU/APDR/0014/2016

Banking

The Reserve Bank of India has issued clarifications relating to acceptance of payments and issue of shares by start-ups. The Bank reiterates, variously, a start-up in India with an overseas subsidiary is permitted to open foreign currency account abroad to pool foreign exchange earnings out of the exports/sales made by the start-up; it is also permitted to avail facilities for realising receivables of overseas subsidiary or making the above repatriation through Online Payment Gateway Service Providers for a value not exceeding US$10,000.

Relevant : Clarifications relating to Issue of Shares MANU/APDR/0013/2016 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2015 MANU/RFEM/0010/2015 Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 MANU/RFEM/0006/2016

Tags : START-UP   PAYMENTS   SHARES   CLARIFICATIONS  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved