Calcutta HC: Award May Be Set Aside if Tribunal Rewrites Contract or Ignores Key Clauses  ||  Delhi HC Suspends Kuldeep Singh Sengar’s Life Term, Holding Section 5(C) of POCSO Not Made Out  ||  Calcutta High Court: Arbitration Clause in an Expired Lease Cannot be Invoked For a Fresh Lease  ||  Delhi High Court: 120-Day Timeline under Section 132B Of Income Tax Act is Not Mandatory  ||  NCLAT Reaffirms That Borrower's Debt Acknowledgment Also Extends Limitation Period for Guarantors  ||  NCLAT: Oppression & Mismanagement Petition Cannot Be Filed Without Company Membership on Filing Date  ||  Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy  ||  NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required  ||  NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes  ||  Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction    

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 2025 - All Rights Reserved