outward remittance guide

A REFERENCE MANUAL FOR OUTWARD FOREIGN EXCHANGE REMITTANCES

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OUTWARD FXREMITTANCES

DOCUMENTS TO BESUBMITTED

A REFERENCEGUIDE


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OUTWARD FX REMITTANCES

DOCUMENTS TO BE SUBMITTED - A REFERENCE GUIDE

INDEXPURPOSE OF REMITTANCE S.No.

A : TRAVEL RELATED REMITTANCES

Business visits A 1Medical Treatment A 2Private visit / Basic Travel Quota A 3Studies Abroad A 4Maintenance expenses of a patient going abroad for medical check-up etc. A 5Maintenance expenses of attendant accompanying to a patient going abroadfor medical check-up etc. A 6

B: TRAINING RELATED REMITTANCES

Participation in international conference/ training B 1Specialised Training (Airline Companies for their pilots etc) B 2Accommodation charges incurred for trainees abroad (Airlinecompanies arranging for accommodation with some hotels onregular basis) B 3

C: SHIPPING / AIRLINE REMITTANCES

Remittance of Net Remittable Surplus (Foreignshipping companies ) C 1Remittance of Surplus Passage / Freight (ForeignAirline Companies) C 2Remittance by Multimodal TransportOperators to theirOverseas agents C 3Remittance of Freight Prepaid on Inward Consolidationby Air or by Sea C 4Remittance of Break-Bulk agents remuneration on Consolidation ofOutward Sea / Air Cargo C 5Remittance of Demurrage C 6Payment of Freight in Foreign Currency by Indian Exporters/Importers Airline/ Shipping Companies to their Agents in India C 7

D: MEDIA REMITTANCES

Advertisement on T V Media D 1Advertisement in Print Media Abroad (Except State Government and itsPublic Sector Undertakings) D 2Advertisement on Periodicals / Magazines etc D 3


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E: TOUR OPERATOR’S REMITTANCES

Remittances on account of Consolidated Tour arrangementfor foreign tourist visiting neighbouring countries E 1Claims against Indian Tour Operators / Travel Agent E 2Remittance towards cost of hotel reservation / passes/ tickets / Against Tie-up arrangements. E 3

F: REMITTANCES AGAINST SERVICES RENDERED

Maintenance / Annual Service charges for Imported Machinery/Software etc : F 1Remittance of consulatancy service F 2Remittance of support services against agreement (Airline Pilots) F 3Short Term engagement of foreign nationals by Indian Firms/Companies F 4Registration charges for Patents / Trade Marks F 5Electronic Data base costs / computer connect / time charges/ hit charges F 6Feasibility/ Pre-feasibility studies for projects in India F 7Feasibility studies for projects abroad F 8Fees for certification F 9

G: PERSONAL REMITTANCES

Employment abroad G 1Emigration G 2Gift Remittance G 3Donations G 4Remittance for maintenance to close relatives abroad by foreign nationalswho are in regular employment of Indian Firms/ companies G 5Salary credit to the foreign currency accounts abroad of a foreign nationalwho are on deputation to the office, branch in India. G 6

H: OTHER REMITTANCES

Remittance of Dividend H 1Refund of Income-tax of Non-Resident Firms/ Companies H 2Hospitality to Foreign National H 3Remittance of Royalty & Technical fees H 4Remittance of Insurance Premium by MTO H 5Remittance of repairs of machinery / APU, spare parts of Aircraft etc : H 6Bids in Foreign Currency for Projects to be executed in India H 7Consular fees H 8Remittances of artiste e.g. wrestler, dancer, entertainer etc.

engaged by hotels in five star categories. H 9Engagement of overseas coaches / trainers H10Remittance of Profit of a branch H11Remittance of surplus on completion of the Project H12Agency commission on Exports H13Refund of Export proceeds H14Remittance of current income from NRO account H15Remittance of Legal fees H16


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Royalty by Indian Music Company for reproduction of copyrightmusic recorded by Overseas Company H17Joint Venture / Wholly Owned subsidiary H18Opening of Representative Office / posting of representative H19Approval for setting up of International Call Centre H20Remittance of License fees H 21Remittance towards reinsurance fees H 22Remittance of living expenses of employees on deputation abroad ofsoftware companies H 23Entry fee for International advertising festival H 24Remittance of export claims H 25Transponder fees H 26Remittances to foreign Courier Companies H 27Remittance of current income of NRIs who do not maintain an NRO accountin India H 28Remittance of insurance premium towards general insurance policies takenby units located in Special Economic Zones H 29Remittance for purchase of shares under Employees Stock Option Scheme H 30


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A : TRAVEL RELATED REMITTANCES

A 1. Business visits :

Documents required :a) Clients letter, indicating name, address, passport number of the traveler and debit authorityb) Form A2c) FEMA declarationd) Clients declaration to the effect that amount of remittance does not exceed USD 25000/-

per visit.

Limit : USD 25000.00 (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)

Reference : FEMA-GOI-Notification G.S.R 381 (E) Schedule III, Item 8 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 8.

A 2. Medical Treatment :

Documents required :

a) Letter indicating name, address, passport number of the applicant, country/hospital detailsof medical treatment, beneficiary bank details and debit authority

b) Form A2c) Form TRM 1d) Hospital / Doctors estimate or Doctors certificate in form TRM2e) Copy of passport and confirmed Airticket.f) FEMA declaration

Limit : As per the estimate of doctor in India or hospital / doctor abroad. (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)

Reference : FEMA-GOI-Notification G.S.R 381 (E) Schedule III, Item 9 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 9


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A 3. Private visit / Basic Travel Quota :



b) Form A2c) Copy of passport and confirmed Airticket.d) FEMA declaratione) A declaration to the effect that the remittance amount does not exceed USD 5000.00 for the

calendar year.f) BTQ form

Limit : USD 5000.00 per calendar year (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)


A 4. Studies abroad :


a) Letter indicating name, address, passport number of the applicant, details of college /institution and debit authority

b) Declaration in from TRSc) Form A2d) Original certificate in support of educational qualificatione) College / Institution prospectus, syllabus in original giving details of course fee etc.f) Copy of passport and confirmed Air ticket.g) FEMA declaration

Limit :Estimate of Institute or USD 30000.00 whichever is higher (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)



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A 5. Maintenance expenses of a patient going abroad for medical check-upetc.



b) Form A2c) Form TRM1d) Hospital / Doctors estimate or Doctors certificate in form TRM2e) Copy of passport and confirmed Airticket.f) FEMA declaration

Limit : USD 25000/- (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)


A 6. Maintenance expenses of attendant accompanying to a patient going abroad for medical check-up etc.


a) Letter indicating name, address, passport number of the attendant, country/hospital detailsof medical treatment, beneficiary bank details and debit authority

b) Form A2c) Copy of Form TRM1 submitted by patientd) Copy of passport and confirmed Airticket of the attendant.e) FEMA declaration

Limit : As per the estimate of doctor in India or hospital / doctor abroad. (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)



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B: TRAINING RELATED REMITTANCES

B 1. Participation in international conference / training

Documents required :a) Clients letter, indicating name, address, passport number of the traveler, duration and

nature of visit to each country, beneficiary bank details and debit authorityb) Form A2c) Clients declaration to the effect that amount of remittance does not exceed USD 25000.00

per person.d) Copy of the brochuree) FEMA declaration



B 2. Specialised Training (Airline companies for their pilots etc )


a) Clients letter, indicating name, address, passport number of the traveler, duration andnature of visit to each country, beneficiary bank details and debit authority

b) Clients declaration to the effect that amount of remittance does not exceed USD 25000.00per person.

c) Form A2d) Statement giving the details of name of the pilots etc training hours, rate, total amount duly

signed by the customer.e) DGCA Approvalf) FEMA declaration

Limit :USD 25000.00 (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)



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B 3. Accommodation charges incurred for trainees abroad (Airlinecompanies arranging for accommodation with some hotels on regular basis)


a) Clients letter, indicating purpose of remittance, beneficiary bank details and debit authorityb) DGCA approval for trainingc) Copy of letter / correspondence for trainingd) Declaration to the effect that the remittance of hotel accommodation charges are on

account of training to the pilots and amount of remittance does not exceeds USD 25000.00inclusive of training cost of training per person.

e) Form A2f) Statement giving the details of invoice no. name of the participant, period amount and

passport no.g) Consolidated invoice / separate invoice indicating the name of the individual / Room

details.h) FEMA declaration




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C: SHIPPING / AIRLINE REMITTANCES

C 1. Remittance of Net remittable surplus : (Foreign shippingcompanies)


a) Copy of agency agreement ( One time till expiry date)b) Clients letter, indicating the purpose of remittances, beneficiary bank details and debit

authority.c) Certified copy of the Voyage account / Disbursement account.d) Freight manifests in support of freight collections reported in column 4 of form SPM2e) Export Tally sheet certified by the surveyors in respect of export cargof) Bill of lading in respect of Freight Collected on Imports on charges collected basisg) Documentary evidence in support of other receipts in column 5 of form SPM 2h) An undertaking from the foreign principal that they will repatriate the excess amount

remitted, if found inadmissible during the scrutiny of the statement by the RBI.i) A certificate from the Local Agent that all the expenses related to the concerned

voyages have been accounted for and recovered from the freight collections and thatBank certificates have been enclosed where passage fare / freight is required to bereceived in Foreign Currency.

j) Auditors certificate in respect of Freight Collections and Provision made for Taxes andGovernment Liabilities etc.

k) No objection / Tax Clearance certificate from ITA in original or Undertaking /certificate (in duplicate) regarding payment of Income Tax in the prescribed form(‘form’ provides for auditors certificate)

l) Form A2m) Form SPM2n) Declaration regarding ineligible and other charges not included in the freight amount

furnished for the purpose of remittance o) FEMA declaration

Reference :Paragraph 7 v. of Annexure I to A.D.(M.A.Series) Circular No.11 dated 16.05.2000.


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C 2. Remittance of Surplus Passage/ Freight (Foreign Airline Companies)


a) Clients letter, indicating the purpose of remittances, beneficiary bank details and debitauthority

b) Agency agreement (One time till expiry date)c) RBI permission to carrying on their commercial activity in India ( One time till expiry

date)d) DGCA approval (in case of off-line carriers)e) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate

(in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ providesfor auditors certificate)

f) Form A2g) Form SPM1h) FEMA declaration

Reference : Paragraph 7 v. of Annexure I to A.D.(M.A.Series) Circular No.11 dated 16.05.2000.


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C 3. Remittance by Multimodal Transport Operators (MTOs) to theirOverseas Agents



b) Form A2c) Copy of Registration Certificate issued by the Director General of Shipping (One time till

expiry date)d) Invoice / Debit Note from Overseas agente) Non negotiable copy of Multimodal Transport Document as approved by DGSf) Proof on carriage – Bill of Lading, Railway Receipt, Transport / lorry receipt / invoice

alongwith sector tariff card/ evidence of the rates having been decided prior to shipment /on carriage, receipt from the transporter in case of Inland waterways.

g) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)h) Declaration from the exporters about freight paid (if the MTD is prepaid) and / or the terms

of payment of Terminal Handling charge of transhipment / discharge porti) Statement in form CAS j) FEMA declarationk) Agency agreement (one time till expiry)



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C 4. Remittance of Freight Prepaid on Inward Consolidation of Cargo byAir or by sea



b) Agency Agreement (One time)c) Chartered Accountant Certificate to the effect that the amount of remittance applied for has

been verified with reference to copy of prepaid Master Airway Bill / Master Bill of Ladingtogether with the original relative House Airway Bill / House Bill of Lading as also cargomanifests and invoices from overseas consolidators and had been found correct.

d) A statement in form CAS.e) FEMA declarationf) Form A2g) Form BBI


C 5. Remittance of Break-Bulk agents remuneration on Consolidationof Outward Sea/ Air Cargo



b) Agency Agreement (One time)c) Chartered Accountant Certificate to the effect that the amount of remittance applied for has

been verified with reference to break bulk agents debit notes and invoices, copy of MasterAirway Bill / Master Bill of Lading together with the original relative House Airway Bill /House Bill of Lading as the case may be.

d) A statement in form CASe) Declaration from importer in form DIC.f) FEMA declarationg) Form A2h) Form BBX 1 and Form BBX 2i) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)



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C 6. Remittance of Demurage



b) Sale contractc) Charter Party Agreement (in the cases when in the sale /purchase agreement there is a

specific reference of Charter Party Agreement)d) Notice of readinesse) Lay time statement / statements of facts orf) Survey reportg) Work sheet for demurrage calculationh) Copy of bill of ladingi) Certified copy of Bill of entry (in respect of Imports)j) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)


C 7. Payment of Freight in Foreign Currency by Indian Exporters/Importers Airline/ Shipping Companies to their Agents in India



b) Copy of Airway Bill/ Bill of Ladingc) Form A2d) FEMA declaration

Restriction : Remittance by the debit of clients EEFC account.

Reference : Paragraph 3 i. and v. of schedule to Notification No.FEMA 10/2000-RB dated 3rd May 2000.


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D: MEDIA REMITTANCES

D 1. Advertisements on TV Media :


a) Clients letter, indicating the purpose of remittances, beneficiary bank details and debitauthority.

b) Copy of agency agreement ( one time till expiry date)c) Form A 2d) I) Chartered Accountants certificate to the effect that applicant exporter satisfies the

criteria of having export earning of more than Rs. 10 lakhs during each of thepreceeding two years.

(Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)

II) and the advertisement for which foreign exchange is being remitted will bebroadcast by the foreign television company in foreign countries and not in Indiaalone.

e) Original final bill/invoice from the overseas TV company along with their confirmationthat the advertisement has already been telecast on their media.

f) No objection / Tax clearance certificate from ITA in original or Undertaking /certificate (in duplicate) regarding payment of Income – Tax in the prescribed form(‘form’ provides for auditors certificate)

g) FEMA declaration

Additional documents in case of Agents

h) Chartered Accountants certificate on the summary sheet stating that this amount has not yet paid and still outstanding in the books of clients account.

Reference : FEMA-GOI-Notification G.S.R 381 (E) Schedule III, Item 13 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 13. A.P. (DIR Series) Circular No. 44 dated 14.05.2002


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D 2. Advertisement in Print Media Abroad (except State Government and itsPublic Sector Undertakings) :



b) Form A2c) Invoice/ bill from overseas publisherd) Clippings of the advertisementse) Undertaking / Certificate (in duplicate) regarding payment of Income – Tax in the

prescribed form (‘form’ provides for auditors certificate)f) In case of advertisements released by State Govt.Dept. / undertakings approval letter from

the Ministry of Finance (Dept of Economic Affairs) Govt Of India , New Delhi should becalled for.

g) FEMA declaration

Additional document : In case of Agents of foreign print media

A statement indicating how the net remittable amount has been arrived at duly certified by aChartered Accountant.

Reference : Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Circular No.11 dated 16.05.2000.

D 3. Advertisement in Periodicals / Magazine etc.


a) Clients letter, indicating the purpose of remittances, beneficiary bank details and debit authorityb) Form A2c) Invoice/ bill from overseas publisherd) Clippings of the advertisementse) Undertaking / Certificate (in duplicate) regarding payment of Income – Tax in the prescribed form. (‘form’ provides for auditors certificate)f) FEMA declaration

Reference : Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Circular No.11 dated 16.05.2000


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E: TOUR OPERATOR’S REMITTANCES

E 1. Remittances on account of Consolidated Tour Arrangements forforeign Tourists Visiting Neighbouring Countries :



b) Form A2c) Invoice / statement showing the details of remittance receivedd) Statement in form CTAe) Original FIRCf) FEMA declaration


E 2. Claims against Indian Tour Operator / Travel Agent :


a) Clients letter, indicating the purpose of remittance, (indicating the reason for refund)beneficiary bank details and debit authority

b) Invoice or claim letterc) Original FIRCd) FEMA declaratione) Form A 2



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E 3. Remittances towards cost of hotel reservation/passes /tickets/ touragainst tie-up arrangement :


a) Clients letter, indicating the purpose of remittance, beneficiary bank details and debitauthority.

b) Copy of the tie-up agreement with foreign service providers (one time – till validity)c) Form A2d) Statement showing the details of remittable amounte) FEMA declarationf) A declaration from the client to the effect that the remittance is being made out of the

foreign exchange purchased by the concerned traveller from an authorised person(including exchange drawn for private travel abroad) in accordance with the Rules,Regulations and Directions in force.

Reference : Paragraph A 9 toA.P.(DIR Series) Circular No.19 dated 30.10.2000 Para A9 Part II of Master Cir. No.EC.CO.PCD No.17/15.02.76/2001 -02 dated 13.08.02


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F: REMITTANCES AGAINST SERVICES RENDERED

F 1. Maintenance / Annual Service Charges for Imported Machinery /Software etc:



b) Form A2.c) Invoice from the overseas company indicating the amount of charges, nature of services

rendered and description of machinery / equipment / software imported.d) Copy of contract / agreemente) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)f. Documentary evidence to ensure that the machinery / equipment / software has been

actually imported into India.(Bill of entry etc)g) FEMA declarationh. Client’s declaration to the effect that the machinery / software not covered under any warranty / guarantee period.



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F 2. Remittance of consultancy service :


a) Clients letter, indicating the purpose of remittances, nature of consultancy rendered,beneficiary bank details and debit authority

b) Form A2c) Invoiced) Copy of contact / correspondencee) Client’s declaration to the effect that the remittance is not exceeded USD 100,000.00 per

project.f) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)g) FEMA declaration

Limit : USD 100,000/- per project(Shall not apply to drawal made out of funds held in Resident ForeignCurrency Account)

Reference : FEMA-GOI-Notification G.S.R 381 (E) Schedule II, Item 15. A.P.(DIR Series) Cir.No.29 dated 31.03.2001

Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 15.

F 3. Remittance of support services (agreement) : (Air line pilot)


a) Clients letter, indicating the purpose of remittances, beneficiary bank details and debit authority.b) Copy of the agreementc. Statement of support services renderedd. Form A2e. Passport copies of pilotsf) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)g) FEMA declaration



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F 4. Short Term Engagement of Foreign Nationals by Indian Firms/Companies :



b) Form A2c) Form EFTd) Copies of Passporte) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)f) FEMA declaration


F 5. Registration charges for Patents / Trade Marks :



b) Form A2c) Documentary evidence in support of such fees.d) FEMA declaration

Reference : Paragraph 6 of Annexure 1 A.D.(M.A.Series) Circular No.11 dated 16.05.2000.


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F 6. Electronic Data base costs / Computer connect /time charges / hitcharges:



b) Form A2c) Invoice / debit notes.d) FEMA declaration

Reference : Paragraph 6 of Annexure 1 A.D.(M.A.Series) Circular No.11 dated 16.05.2000.

F 7. Feasibility / Pre-feasibility studies for projects in India :



b) Form A2c) Invoiced) Certified copy of the invoice / correspondencee) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)f) Undertaking from the client that they have complied with the provisions of R & D Cess act

1986.g) Confirmation from the applicant that the assignment has been completed.h) Client’s declaration to the effect that the remittance is not exceeded USD 100,000.00 per

project.i) FEMA declaration

Limit : USD 100,000/- per project(Shall not apply to drawal made out of funds held in Resident ForeignCurrency Account)

Reference :FEMA-GOI-Notification Schedule III, Item 15 A.P.(DIR Series)Cir.No.29 dated 31.03.2001 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 15.


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F 8. Feasibility Studies for Projects Abroad :



b) Form A2c) Copy of the contract / correspondenced) Invoicee) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificatef) Confirmation from the applicant that the assignment has been completed.g. Client’s declaration to the effect that the remittance is not exceeded USD 100,000.00 per

project.h) FEMA declaration

Limit : USD 100,000/- (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account)

Reference : FEMA-GOI-Notification G.S.R.381(E) Schedule III, Item 15 A.P.(DIR Series)Cir.No.29 dated 31.03.2001 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 15.


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F 9. Fees for certification :



b) Form A2c) Invoice from the overseas acredited agency indicating details of products(s) fees payable

for certification.d) FEMA declaration



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G: PERSONAL REMITTANCES

G 1. Employment abroad :


a) Letter, indicating name, address, passport number of the applicant and debit authorityb) Form A2c) Original copy of letter of appointment received from the overseas organisation.d) Copy of passport and confirmed Air-tickete) FEMA declaration


Reference : FEMA-GOI-Notification G.S.R. 381(E) Schedule III, Item 5 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 5

G 2. Emigration :


a) Letter indicating name, address, passport number of the applicant, country of emigration,beneficiary bank details and debit authority

b) Form A2c) Documentary evidence in support of emigration.d) Copy of passport and confirmed Air-ticket.e) FEMA declaration

Limit : USD 5000.00 or amount prescribed by country of emigration (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)

Reference : FEMA-GOI-Notification G.S.R.381(E)Schedule III, Item 6 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 6


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G 3. Gift remittance :


a) Letter, indicating the purpose of remittances, beneficiary relation,bank details and debitauthority

b) Form A 2c) Form REMd) Declaration to the effect that the amount does not exceed USD5000.00.d) FEMA declaration

Limit : USD 5000.00

Reference : FEMA-GOI-Notification G.S.R.381(E) Schedule III, Item 3 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001

Schedule III, Item 3

G 4. Donations :


a) Letter, indicating the purpose of making gift, name address of the and activities of theorganisation, beneficiary bank details and debit authority

b) Form A 2c) Documentary evidence such as brochure indicating the activities of the organisation.d) Declaration from the client that the amount does not exceeded USD 5000.00.e) FEMA declaration

Limit : USD 5000.00

Reference : FEMA-GOI-Notification G.S.R.(381 E.) Schedule III, Item 4 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001

Schedule III, Item 4


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G 5. Remittances for maintenance to close relatives abroad by ForeignNationals who are in regular employment of Indian Firms/Companies :



b) Form A2c) Clients declaration to the effect that the employee concerned is in regular employment and

the said remittance does not exceed the net salary.d) FEMA declaratione) Copy of passport and employment visa (one time basis)

Limit : Not exceeding net salary

Reference : FEMA-GOI-Notification G.S.R. (381 E) Schedule III, Item 7 Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001

Schedule III, Item 7.

G 6. Salary credit to the foreign currency accounts abroad of a foreign nationalwho are on deputation to the office / branch in India. :



b) Form A2c) Clients declaration to the effect that

(I) employee concerned is in regular employment and the said remittance does notexceed 75 percent of the salary

(II) remaining salary paid in rupees in India(III) income tax is paid on the entire salary

d) FEMA declaratione) Copy of passport and employment visa (one time basis)

Limit : 75% of salary

Reference : Regulation 8 of Notification No. FEMA 34/2001-RB dated 22.01.2001 A.P. (DIR Series) Circular No.28 dated 30.03.2001.


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H: OTHER REMITTANCES

H 1. Remittance of Dividend :Documents required :

a) Clients letter, indicating the purpose of remittances, beneficiary bank details and debit authorityb) Form A2c) Form RCD 1 duly filled and signedd) Form RCD 2 duly filled and signede) RBI approval for issuing shares (does not prohibit the remittance of dividend).f) Copy of audited balance sheet and profit and loss account for the year to which dividend

relates.g) Certified copy of Annual General Meeting of the company declaring the dividend.h) FEMA declaration

Reference : Regulation 11 of Notification No. FEMA 20/2000-RB dated 03.05.2000

H 2. Refund of Income-tax of Non-resident Firms/ Companies.



b) Original assessment order and copy of the Income – tax return for the correspondingassessment year.

c) Confirmation from the authorised dealer through whom the income tax refund order hasbeen encashed that the proceeds of the refund order have been received.

d) Source (in details) of funds from which tax was originally paid.e) FEMA declarationf) Form A2

Reference : Paragraph 6 of Annexure 1A.D.(M.A.Series) Circular No.11 dated 16.05.2000.


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H 3. Hospitality to Foreign National


a) Clients letter, indicating the purpose in detail of remittances, beneficiary bank details anddebit authority.

b) Copies of passport.c) Form A2d) Documentary evidence.e) FEMA declaration


H 4. Remittance of Royalties / Technical fees :Documents required :

a) Clients letter, indicating the purpose of remittances, beneficiary bank details and debit authorityb) Form A 2c) Agreement copyd) Reserve Bank of India approvale) Auditors certificate in form TCK / TCRf) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate)g) FEMA declaration

Reference :FEMA-GOI Notification G.S.R. (381 E) Schedule III. Item 14 Master Cir.EC.CO.PCD.No.17/15.02.76 /2002-02 dated 13.08.2001 Schudel III, Item 14.


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H 5. Remittance of Insurance Premium by MTO



b) Form A2c) Original Invoiced) Form MTRe) NOC from General Insurance Corporation.e) FEMA declaration


H 6. Remittance of repairs of machinery / APU, spare parts of Aircraft etc.:


a) Clients letter, indicating the purpose of remittances, nature /description of repairs,beneficiary bank details and debit authority.

b) Documentary evidence of export of spare parts ( AWB /BL – with indication of GR waiver)c) Documentary evidence of import ( Bill of entry).d) Original Invoice.e) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate).f) FEMA declarationg) Form A2



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H 7. Bids in Foreign Currency for Projects to be executed in India :Documents required :


b) Form A2c) Copy of government authorisation for bidding procedure.d) FEMA declaration


H 8. Consular fees :



b) Form A2c) A certificate on Form A2 by the remitting mission.“We hereby certify that the remittance represents visa fees / other consular collections made byus and the amount so far remitted during the year is Rs……. The remittance during theprevious year viz……. Aggregated Rs……d) FEMA declaration


H 9. Remittances of artiste e.g. wrestler, dancer, entertainer etc.engaged by hotels in five star categories.



b) Copy of agreement / correspondence.c) Original Invoice.d) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form


30/06/2002 32

(‘form’ provides for auditors certificate).e) FEMA declarationf) Form A2

Restriction : Remittance allowed only by the debit to clients EEFC account

Reference : FEMA-GOI-Notification G.S.R. (381 E) Schedule III, Item I Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001

Schedule III, Item I


30/06/2002 33

H 10. Engagement of overseas coaches / trainers :



b) Form A2c) Copy of contract / agreement / correspondence.d) Invoicee) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate).f) FEMA declaration


H 11. Remittance of Profit of a branch :



b) Form A2c) RBI approval for opening a branch officed) Certified copy of the audited balance sheet and profit and loss account for the relevant yeare) Chartered Accountant certificate certifying 1) the manner of arriving at the remittable profit, 2) that the entire remittable profit has been earned by undertaking the permitted activities, and 3) the profit does not include any profit on revaluation of the assets of the branch.f) No objection / Tax Clearance certificate from ITA in original or Undertaking / certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate).g) FEMA declaration

Reference : Regulation No.7. Notification No.FEMA 22/2000-RB dated 03.05.2000.


30/06/2002 34

H 12. Remittance of surplus on completion of the Project :



b) Form A2c) RBI approval for opening a project officed) Certified copy of the final audited project accountse) Chartered Accountant certificate showing the manner of arriving at the remittable surplus.f) Income-tax assessment order or either documentary evidence showing payment of income-

tax and other applicable taxes, or a Chartered Accountant’s certificate stating that sufficientfunds have been set aside for meeting all Indian tax liabilities: and

Auditor’s certificate stating that no statutory liabilities in respect of the Project are outstanding.g) FEMA declaration

Reference : Regulation No.7 of Notification No.FEMA 22/2000-RB dated 03.05.2000.

H 13. Agency Commission on Exports :

Documents required :a) Clients letter, indicating the purpose of remittance, beneficiary bank details and debit

authority.b) Form A2c) Copy of GR/SDF/PP/SOFTEX form declaring commission accepted by customs or Clients

letter indicating the reasons for not declaring the commission on Export Declaration form supported by valid agreement / written understanding between exporter and/or beneficiary of payment of commissiond) Evidence of shipment madee) FEMA declaration

Reference : Para D.1 of A.P.(Dir Series) Circular No.12 dated 09.09.2000


30/06/2002 35

H 14. Refund of Export proceeds :



b) Form A2c) Correspondence from the overseas buyers relating to poor quality etc.d) Evidence of proceeds originally received.e) Evidence of re-import.f) FEMA declaration

Reference : Para D2 of A.P.(DIR Series) Circular No.12 dated 09.09.2000

H 15. Remittance of current income from NRO account



b) Form A2c) RCI formd) No objection / Tax Clearance certificate from ITA in original or Undertaking /

certificate (in duplicate) regarding payment of Income Tax in the prescribed form(‘form’ provides for auditors certificate).Evidence of proceeds originally received.

e) FEMA declarationf) Other documents depends upon the nature of income (e.g. RCD 2 and RBI approval

required in case of Dividend Income)Reference : Para 3. (ii) of Schedule 3 of Notification No.FEMA 5/2000-RB dated

03.05.2000.


30/06/2002 36

H 16. Remittance of Legal fees relating to court case :


a) Clients letter, giving full details of litigation, beneficiary bank details and debit authority.b) Form A2c) Invoiced) No objection / Tax Clearance certificate from ITA in original or Undertaking /

certificate (in duplicate) regarding payment of Income Tax in the prescribed form (‘form’ provides for auditors certificate).Evidence of proceeds originally received.

e) Correspondence of litigation.f) FEMA declaration

Reference : Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Circular No. 11 dated 16.05.2000.

H 17. Royalty by Indian Music Company for reproduction of copyright music recorded by Overseas Company



b) Form MRR and Form A2c) Certified copy of agreementd) Income-tax assessment order or either documentary evidence showing payment of income-

tax and other applicable taxes, or a Chartered Accountant’s certificate stating that sufficientfunds have been set aside for meeting all Indian tax liabilities: and

Auditor’s certificate stating that no statutory liabilities in respect of the Project are outstanding.e) FEMA declaration

Reference : Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Circular No. 11 dated 16.05.2000.


30/06/2002 37

H 18. Joint Venture / Wholly Owned subsidiary



b) Form A2c) Form ODAd) Certificate from the statutory auditors in the format given in the forme) Certified copy of Board Resolutionf) FEMA declaration

Reference :Notification No. FEMA 19/RB-2000 dated 03.05.2000 Master Circular No. EC.CO.PCD.No.53/15.02.76/2001-2002 dated 04.04.2002

H 19. Opening of Representative Office / posting of representative

Documents required :a) Clients letter, indicating the purpose opening representative office/posting representative,

beneficiary bank details and debit authority.b) Copy of branch approval issued to client for opening the branch etc.c) Form A2d) Form OBR (First time while opening branch/rep. Office or posting of representative)e) In the case of trading branch, cashflow statement in the prescribed format.f) FEMA declarationg) Clients statement indicating the average annual sales/income or turnover during the last

two accounting years.h) Clients undertaking to the effect that the remittance not exceeds 2 percent of annual

sales/income or turnover during last two accounting years in case of initial expenses.Similarly in case of recurring expenses the remittance not exceeds 1 percent of averageannual sales/income or turnover.

Limit : To meet initial expenses: 2 percent of the average annual sales /income or turnover during last two accounting years of the Indian entity.Recurring expenses : 1 percent of such average annual sales / income orturnover

(Shall not apply to drawal made out of funds held in Exchange Earners Foreign Currency Account.)

Reference :Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Circular No. 11 dated 16.05.2000 Notification No.47/2001-RB Dated 5th Dec. 2001 A.P.(DIR Series) Circular No.54 dated 29.06.2002


30/06/2002 38

H 20. Approval for setting up of International Call Centre


a) Clients letter indicating the purpose of remittance, beneficiary bank details and debitauthority

b) Copy of the agreement (one time basis)c) Copy of the approval from Government of India, Ministry of Communications, Department

of Telecommunications.d) Copy of invoice.e) Form A2f) FEMA declaration

Reference : Paragraph 6 of Annexure 1 to A.D. (M.A.Series) Circular No. 11 dated 16.05.2000.

H 21. Remittance of License fees :



b) Copy of the agreement/ correspondence/copy of the licencec) C.A. Certificate to the effect that the client has received the softwared) Copy of invoice.e) Form A2f) FEMA declaration

Reference :Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Circular No. 11 dated 16.05.2000

H 22. Remittance towards reinsurance fees

Documents required


b) Original copy of RBI approval (to comply with conditions in RBI approval)c) Form A2d) FEMA declarationReference : RBI approval


30/06/2002 39

H 23. Remittance of living expenses of employees on deputation abroad of software companies

Documents required


b) Clients undertaking to the effect that the aggregate exchange facilities already availed of/tobe availed of for execution of the contract would be within the overall ceiling of projectrelated expenses viz. 70% of the contract value.

c) Form A2d) FEMA declaration

Reference : Para C 1.(ii) of Memorandum of Instructions on Project Exports and Services (PEM)

H 24. Entry fee for International advertising festival


b) Invoice.c) Form A2d) FEMA declaration


H 25. Remittance of Export Claims

Documents required


b) Form A2c) Correspondence from the overseas buyers relating to defective quality etc.d) Evidence of proceeds originally received.e) Evidence of re-import.f) Client declaration to the effect that they are not in Reserve Bank’s caution list.g) FEMA declaration

Reference : Para C 13 of A.P.(DIR Series) Circular No.12 dated 09.09.2000


30/06/2002 40

H 26.Transponder fees

Documents required


b) Invoice.c) Ministry of Finance (Department of Economic Affairs) approval (Shall not apply to drawal made out of funds held in Resident Foreign Currency Account or Exchange Earners Foreign Currency Account.)d) Form A2e) FEMA declaration

Reference : FEMA-GOI-Notification G.S.R.(381 E.) Schedule II, Item 6 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001

Schedule II, Item 6

H 27. Remittances to foreign Courier Companies

Documents required


b) Agency agreement (one time basis)c) C.A. certificate that the amount of remittance applied for has been checked with reference

to invoices received from overseas company and invoices raised by the Indian companyand applicable rates and the amount applied for has been found correct.

d) No objection / Tax Clearance certificate from ITA in original or Undertaking /certificate (in duplicate) regarding payment of Income Tax in the prescribed form(‘form’ provides for auditors certificate).

f) Form A2g) RCC formh) FEMA declaration

Reference : Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Circular No. 11 dated 16.05.2000


30/06/2002 41

H 28. Remittance of Current Income of NRIs who do not maintain anNRO account in India

Documents required

a) Clients letter indicating the purpose of remittance and beneficiary bank details.b) Cheque / Dividend warrant etc.c) Form RCId) Form A2e) FEMA declaration

Reference : A.P. (DIR Series) Circular No. 45 dated 14.05.2002

H 29. Remittance of insurance premium towards generalinsurance policies taken by units located in SpecialEconomic Zones

Documents required


b) Invoice.c) Form A2c) FEMA declaration

Reference : A.P.(DIR Series) Circular 47 dated 17.05.2002


30/06/2002 42

H 30. Remittance for purchase of shares under Employees StockOption Scheme.

Documents required


b) Clients undertaking to the effect that the consideration for purchase of shares does notexceed USD 20,000/- in a calendar year.

c) Copy of the offer letter.d) Copy of the scheme ( shares are offered at concessional rate)e) Form A2f) FEMA declarationg) Chartered Accountant’s certificate confirming the foreign equity holding of the company

(This is in case of Indian Company in which foreign equity holding is not less 51%)

Reference : Regulation 19 (2) of Notification No. FEMA 19/RB-2000 dated 03.05.2002.Notification No. FEMA 40/RB-2000 dated 02.03.2001Master Circular No. EC.CO.PCD.No. 53/15.02.76/2001-2002 dated04.04.2002A.P.(DIR Series) Cir. No. 32 dated 28.04.01


30/06/2002 43

OPERATIONALINSTRUCTIONS


30/06/2002 44

1) Declaration-cum Undertaking to be obtained by Authorised Dealers : (FEMADeclaration - Refer Lo-note dated 27.02.2002)

Under the provisions of the Foreign Exchange Management Act, 1999 [ Chapter III, Section 10Sub Section (5)] an Authorised person (which term includes an Authorised Dealer) shall,before undertaking any transaction in foreign exchange on behalf of any person, is required toobtain such declaration and such information from the person (applicant) that will reasonablysatisfy the authorised dealer that the transaction will not involve and is not designed tocontravene or evade the provisions of the Act or any of the rules or regulations, notificationsdirections or orders issued thereunder. ADs are also required to preserve theinformation/documents obtained by them from the applicant on the basis of which thetransaction was undertaken, for verification by the RBI.

In this context, FEDAI has devised two formats of Declaration-cum-Undertaking to beobtained from the applicant before undertaking transaction in foreign exchange as under :

1. Form 1 to be obtained initially on one-time basis from constitutes of the Bank such asimporters, exporters etc. having regular foreign exchange transactions of various types.Information in support of each transaction will, however, be required to be obtainedseparately before undertaking any such transaction.

2. Form 2 to be obtained from occasional or casual applicants for foreign exchange, which isto be obtained for each transaction either separately or incorporated appropriately in theapplication form.

Procedures to be followed by the branches :

Branches shall, before undertaking any transactions in foreign exchange of a regular client, isrequired to obtain a declaration-cum-undertaking in Form 1 on one time basis and retain thesame in a separate file.Similarly, a declaration-cum-undertaking in Form 2 on case to case basis from occasional orcasual applicants and may be kept with the transactions.


30/06/2002 45

II) Undertaking regarding payment of Income-tax :

In terms of 3B10 of Exchange Control Regulations/ CBDT’s circular No.759 dated 18.11.97,it will be in order for authorised dealers to allow such remittances without insisting on taxclearance certificate/ NOC from Income Tax authorities, provided the person making theremittance furnishes an undertaking (in duplicate) addressed to the Assessing Officer/……….accompained by a certificate from an Accountant (other than an emlpoyee) as defined in theexplanation below Section 288 of the Income-tax Act 1961 in the form prescribed by theGovernment.

Procedures to be followed by the branches :

Branches after making the remittance (irrespective of whether the remittance has been madeagainst Reserve Bank permit or under powers delegated to them) immediately forward a copyof of the applicants undertaking together with a copy of the Accountants certificate, toAssessing Officer of the Income Tax Department as indicated in the undertaking orDirectorate of Income Tax as suggested by the respective Regional Office of Reserve Bank.(e.g. Reserve Bank Of India, Mumbai Regional Office,vide their Cir.No.EC.Mumbai.EPD-III/1575/14.03.64/2001-2002 dated 11th March 2002 instructed Authorised Dealers of MumbaiRegion to submit such applicants undertaking and C.A.certificate to Directorate of Income Tax(International Taxation), Room No. 253, Ayakar Bhavan, M.K.Road, Mumbai 400 020.


30/06/2002 46

III)General Procedure relating to Direct Investment in Joint Ventures/Wholly OwnedSubsidiaries :

Authorised dealers are allowing remittances upto the permissible limits on receipt ofapplication in form ODA in triplicate together with form A2, duly filled in, from the Indianparty/parties making investments in JV/WOS abroad subject to their complying with theconditions specified in Notification No.19/RB-2000 dated 3rd May 2000. All transactionsrelating to investment in a JV/WOS are to be routed through only one branch of an authoriseddealer designated by the Indian party and the concerned authorised dealers are required tomaintain party-wise record in respect of each JV/WOS separately.

Immediately after effecting the remittance, the authorised dealers are required to forward areport on remittance in the form ODR, in duplicate to the Chief General Manager, ExchangeControl Department (Overseas Investment Division), 3rd floor, Amar Building, Mumbai 400001. Authorised Dealers may ensure that the remittances on account of investments byPartnership firm are reported with the superscription “Remittance by partnership firm underRegulation 17B” form ODR. In case where the investment is being made jointly by more thanone Indian party, form ODA is required to be signed jointly by all the investing parties. Thesame procedure may be followed where the investment is made out of proceeds of ADR/GDRissues. Indian parties make direct investment in JV.WOS by way of capitalisation of exports,authorised dealers are required to obtain a custom certified copy of the invoice and forward itto the Reserve Bank together with forms ODR. In certain cases investment in JV/WOSrequires prior approval of the Reserve Bank. Authorised dealers may allow remittances underthese specific approvals and report the same to Reserve Bank in the form ODR. Whileallowing remittances in respect of individual overseas concerns under the scheme of blockallocation(as per the terms of Reserve bank approval), Authorised dealers may obtainnecessary information in form ODA. Authorised Dealers forward the report to the ReserveBank after superscription “Remittance under Block Allocation Approval No. ……….. dated…….. along with the report of remittance in form ODR. On being approached by an IndianParty, which is eligible under the Regulations in Part I to make investment outside India, anauthorized dealer may allow remittance towards earnest money deposit or issue a bid bondguarantee on its behalf for participation in bidding or tender procedure for acquisition of acompany incorporated outside India. On winning the bid, authorised dealers may remitacquisition value after obtaining Form A2 duly filled in and report such remittance (icludingthe amount initially remitted towards EMD) to Reserve Bank in form ODR. Authorised dealerswhile permitting remittance towards EMD should advise the Indian party that in case they arenot successful in the bid, they should ensure that the amount remitted is repatriated inaccordance with Notification No. FEMA 9/2000-RB dated 3rd May 2000. In cases where anIndian party, after being successful in the bid/tender decides not to proceed further with theinvestment, Authorised Dealers should submit details of remittance allowed towardsEMD/invoked bid bond guarantee in form ODR to Reserve Bank.

On receipt of the form ODR from the authorised dealers, the Reserve Bank will allot an uniqueidentification number to each JV or WOS abroad, which is required to be quoted in all thefuture correspondence with the Reserve Bank.


30/06/2002 47

Procedure for submission of ODA/ ODR forms by the branches : (Refer our lo-note of21.05.2002)

In terms of RBI letter Ref. No. EC.CO.OID/6586/19.30.02/01-02 dated 02.04.2002,Authorised Dealers are required to designate a specific branch for the purpose of handling andcollection of data relating to such remittances. Accordingly, we have advised Reserve Bank OfIndia that we (CTX) shall be the designated office for the purpose of handling and collection ofdata relating to such remittances of branches.

Therefore, henceforth we request you to send all the ODR forms with its enclosures intriplicate (retaining one copy for branches record) to us for onward submission to The ChiefGeneral Manager, Exchange Control Department (Overseas Investment Division), 3rd floor,Amar Building, Mumbai 400 001.


30/06/2002 48

IV) Establishment of Overseas Offices :

In terms of Notification No. FEMA 47/2001-BR dated 05.12.2001 and A.P.(DIR Series)Circular No.54 dated 29.06.2002, a firms or a company or a body corporate registered orincorporated in India may open, hold and maintain in the name of its office (trading or non-trading) or its branch set up outside India or its representative posted outside India, a foreigncurrency account with a bank outside India by making remittances from India for the purposeof normal business operations of the office /branch or representative.

Procedure to be followed by the branch :

A) Firms / Companies in India desiring to open offices (trading/ non trading) or postrepresentative abroad should submit application to branches in form OBR along with requireddocuments. Branch in turn scrutinise the applications and issue the approval provided :

a) the overseas branch/office has been set up or representative is posted overseas forconducting normal business activities of the Indian entity;

b) the total remittance made under by the Indian entity, to all such offices shall not exceed1) 2 percent of the average annual sales/income or turnover during last two accounting

years of the Indian entity, where the remittances are made to meet initial expenses ofthe branch or office or representative, and

2) 1 percent of such average annual sales/income or turnover where the remittances aremade to meet recurring expenses of the branch or office or representative, (conditionno. 1 & 2 is not applicable in case of the remittances made out of funds held in EEFCaccount or such office is set up or representative posted by a 100% EOU or a unit inEPZ or in a Hardware Technology Park or in Software Technology Park within twoyears of establishment of the Unit.

c) the overseas branch/office/representative shall not enter in any contract or agreement incontravention of the Act, Rules or Regulations made thereunder.

d) The overseas branch/officeis to be set up (representative is to be posted) within six monthsof opening the account.

e) The overseas office (trading/ non-trading)/ branch / representative should not create anyfinancial liabilities contingent or otherwise for Head Office in India.

f) The overseas office (trading/non-trading)/ branch/ representative should not invest surplusfunds abroad without prior approval of Reserve Bank of India. Any funds rendered surplusshould be repatriated to India.

g) The overseas office/ branch of software exporter company/ firm, may repatriate to India100% of the contract value of each off-site contract as also atleast 30% of the contractvalue of each on-site contract and may utilise the balance amount (70%) of the contractvalue of on-site contracts for contract related expenses including office/ branch expensesabroad. A duly audited yearly statement showing receipts under off-site and on-sitecontracts undertaken by the overseas office, expenses and repatriation there on may besent to the authorised dealer.

h) The details of bank account opened should be promptly reported to authorised dealer.


30/06/2002 49

B) Branch has to give approval based on above conditions, initialy for two years, furtherwhich may be renewed every two year, provided proper accounts of utilisation of foreignexchange released are furnished.

C) Branch has to submit a statement in form ORA to the Regional Office of Reserve Bank onhalf yearly basis.

D) Documents to be obtained at the time of giving approval for opening branch/ office,posting of representative abroad :

i) Correspondence if anyii) In the case of a trading branch, cash flow statement.

Specimen copy of the Banks Approval letter to establishing Overseas Branch / Office/ Posting ofRepresentative abroad

(Ref : H-19)(Notification No. FEMA 47/2001-RB Dated 5th Dec.2001 and A.P.(DIR Series) Circular No.54 dated

29.06.2002)(Paragraph 6 of Annexure 1 to A.D. (M.A.Series) Circular No.11 Dated 16.05.2000)

Ref :...........................Date : ........................

M/s. .........................................................................................................................................................

Dear Sir,

Re : Approval for Opening of Overseas Branch/ Office/ Posting of Representative abroad.

We refer to your application dated ................ on the captioned subject. We hereby grant ourpermission under Paragraph 6 of Annexure1 A.D.(M.A.Series Circular No.11 dated16.05.2000 and Notification No. FEMA 47/2001-RB Dated 5th Dec.2001 and A.P.(DIRSeries) Cir. No. 54 dated 29.06.02 for opening an overseas branch/ office / posting ofRepresentative at ..........………………………………………... subject to the followingterms and conditions :


30/06/2002 50

1) The overseas branch/office/representative posted abroad will conduct normal businessactivities of the Indian entity.

2) The overseas branch/office/representative shall not enter in to any contract oragreement in contravention of FEMA Act and Rules or Regulations made thereunder.

3) The total remittance should not exceed (except in case of remittance effected by thedebit of your EEFC account)a. 2 percent of the average annual sales/income or turnover during last two

accounting years of your company, where the remittances are made to meet initialexpenses of the branch or office or representative, and

b. 1 percent of such average annual sales/income or turnover where the remittancesare made to meet recurring expenses of the branch or office or representative.

4) The overseas office (trading/non-trading)/ branch/representative should not create anyfinancial liabilities contingent or otherwise for the Head office in India

5) The overseas office (trading/non-trading)/ branch/ representative should not investsurplus funds abroad without prior approval of Reserve Bank of India. Any fundsrendered surplus should be repatriated to India.

6) You may open, hold maintain in the name of your office or branch set up outside Indiaor representative posted outside India, a foreign currency account with a bank outsideIndia which should be promptly reported to us, subject to the condition that the accountso opened, held or maintained shall be closed :

i) if the overseas branch/office is not set up within six months of opening the account, orii) within one month of closure of the overseas branch/ office oriii) where no representative is posted for six months and the balance held in the account shall be repatriated to India.7) Purchase of acquisition of office equipments and other assets required for normal

business operations of the overseas branch/office, representative will not be deemed asa capital account transaction.

8) Transfer or acquisition of immovable property outside India, other than by way of leasenot exceeding five years, by the overseas branch/ office/ representative will be subjectto the Foreign Exchange Management (Acquisition and Transfer of ImmovableProperty outside India) Regulations, 2000.

9) You should approach only our bank for any remittance in connection with the overseasbranch/ Office/Representative posted abroad.

Additional condition in case of software company :

10) The overseas office/ branch of software exporter company/ firm, may repatriate to India100% of the contract value of each ‘off-site’ contract as also atleast 30% of the contractvalue of each ‘on-site’ contract and may utilise the balance amount (70%) of thecontract value of ‘on site’ contracts for contract related expenses including office/branch expenses abroad.


30/06/2002 51

You should also submit to us the following statements :

a) A statement showing details of initial expenses incurred together with suitabledocumentary evidence, wherever possible, within three months from the date of releaseof exchange for that purpose.

b) Annual statement indicating the average annual sales/income or turnover during thelast two accounting years duly certified by the statutory Auditors/ CharteredAccountant.

Thanking you,

Yours faithfully,BNP Paribas

......................................... .....................................

Note : Pl. select suitable clauses depending upon the opening of overseas office (trading/non-trading) / branch/representative.


30/06/2002 52

FORMS

AND

DECLARATIONS


30/06/2002 53

APR Annexure II(Ref- H18)

(Notification No. FEMA 19/RB-2000 dated 3rd May, 2000)

Annual Performance Report (APR) on the functioning of Indian Joint Venture (JV)/Wholly Owned

Subsidiary (WOS) abroad for the year ended (Accounting year of the JV//WOS)

(Please read the instructions given in the Annexure before filling up this form)

PART A - GENERAL

1. RBI Approval Number/Date :

2. Ministry of Commerce (GOI)Approval Number/Date (if any) : _____________________________

3. Name and address of Indian (a) Name :Promoter Company(ies) (b) Address :

(a) Name :

4. Name and address of the : (b) Address :JV/WOS

5. Date of (for the JV/WOS) 6. Name of the FC

(a) Incorporation : Referred to in this form : ___________

(b)Commencement ofoperations :

7. (a)Line of activity : (i) Manufacturing (b) Brief details of the products

of the JV/WOS (ii) Trading manufactured/ goods traded/services

(please tick the (iii) Financial Services rendered by the JV/WOS:

appropriate box) (iv) Non-financialservices

(v) Others (Code to be filled in by RBI)PART - B FINANCIAL STRUCTURE


30/06/2002 54

Total amount approved8. (a) Capital structure % of

Of the JV/WOS: % of thethe total totalequity FC INR equity

(i) Indian equity

(ii) Foreign equity

(b) Equity structure of the JV/WOS:Name of Indian Equity RBI holding Name of the

foreignCountry to

promoters Percentage Licence collaborators which they(No. & date) belong

(i)

(ii)

(iii)

( c) Method of acquiring equity Total amount approved Actual amount acquired/heldshares by Indian promoters FC INR FC

(i) Cash remittance

(ii) Capitalisation of:-(I) Export of plant

and machinery/goods

(II) Technical know-how fees

(III) Royalty

(IV) Engineering/Technical servicesFees

(V) Consultancy/Management fees

(VI) Selling agencycommission

(iii) GDR/Foreign currencyloans raised abroad

(iv) Bonus shares

(v) Other methods ( )Please specify


30/06/2002 55

Total :

9. Position of term/working Total amount Outstanding Overdue amountcapital loans/guarantees: Approved Amount Principal(Amount only in FC)

(a) Term loans from :(i) Indian promoters

(ii) Banks/financialInstitutions (FIs)

(iii) Others ( )Please specify

(b) Working capital loans from : (please see Item `H' of the Annexure) :

(i) Indian promoters

(ii) Banks/FIs


(c) Guarantees from : Total amount Total amount Date ofApproved/extende

dInvoked/claimed invocation

(i) Indian promoters

(ii) Banks/FIs


10. Amount of foreign exchange released to the Indian promoter company(ies) on repatriationbasis for different purposes: (Amount only in FC) - (please see Item `I' of the Annexure)

Sr. No. Purpose Date and amountOf remittance

Date Amount

1.

2.

3.

PART C - PERFORMANCE PARAMETERS11. Operational details of the JV/WOS Amount

for the year under report(Amount only in FC)


30/06/2002 56

(a) Installed capacity*(i) Unit name (g) Tax

(ii) Amount ('000 omitted) (h) Net profit (+)/Loss(-)

(b) Capacity utilisation* (only %) (i) Dividend

(c) Gross sales/receipts (j) Transfer to reserves

(d) Operating cost (excluding (k) Free reserves & surplusdepreciation & Interest)

(e) Depreciation (l) Accumulated losses

(f) Interest (m) Net worth* applicable to manufacturing concerns only

12. (a) Entitlements (E) & Repatriations (R) (net of taxes) by the JV/WOS: (Amount only inFC - INR equivalent to be given in brackets for repatriations only) (please seeItem `I' of the Annexure)

Items Year under Since commencement ofReport business by JV/WOS

(E) (R) (E) (R)(i) Dividend [ ]

(ii) Technical know-how fees [ ]

(iii) Royalty [ ]

(iv) Engineering/Technical service [ ]Fees

(v) Consultancy/Management fees [ ]

(vi) Selling agency commission [ ]

(vii) Others ( ) [ ]Please specify

Total : [ ]

(b) Break-up of outstanding entitlements (Amount only in FC) - (please see Item `J' of theAnnexure)

Accountingyear forwhichoutstanding

Dividend Technicalknow-howfees

Royalty Engineering/Technicalservice fees

Consultancy/Managementfees

-


30/06/2002 57

13 Position of non-equity exports to the JV/WOS:(Amount only in INR) Year under report

(a) Projected value

(b) Value actually exported so far

(c) Value realised so far

(d) Value outstanding for realisation beyond6 months

14. If the performance of the JV/WOS has not been satisfactory, indicatethe principal reason(s) by ticking (û) the appropriate box(es):

(a) Non-cooperation of foreign collaborator : (e) Management problems

(b) Liquidity problems : (f) Obsolescence of technology

(c) Competition from importers : (g) Marketing problems

(d) Change in Law/policy of host country : (h) Others (please specify

15. A note on the basic features of the progress and achievements of the JV/WOS on thebasis of original/revised

projections should be attached to this APR (please see Item `K' of the Annexure beforepreparing the note).


30/06/2002 58

DECLARATIONWe hereby declare that the information furnished in this report are true and correct to the bestof our knowledge & belief.

Place :

Date :(Signature of authorised official / person)

Name :Seal Stamp

Designation :

Encls : 1. Note on functioning of the JV/WOS 3. Bank certificates in respect of repatriations :2. Annual account along with Directors 4.

Report for the year ended


30/06/2002 59

ANNEXUREINSTRUCTIONS FOR FILLING OF THE APR

(This portion should be detached and retained by the Indian promoter companysubmitting the APR)

A (i) This form, duly filled in, should be submitted within 30 days of the expiry of the statutory period for the finalisation of the audited annual accountsapplicable in the host country of the JV/WOS. A certificate indicating the statutory period from an independent Chartered Accountant / PublicAccountant of the host country should be attached.

(ii) In case, there is no such statutory period, this form should be submitted within 6 months from the close of relevant accounting period.

(iii) In case there are more than one Indian promoter company, the principal promoter company has to submit the APR on behalf of all other promotercompanies.

B. The Indian promoter company of the JV/WOS should submit this form in duplicate to the concerned Regional Office of Exchange Control Department ofReserve Bank of India and another copy to Ministry of Commerce, EP(OI) Section, Government of India, Udyog Bhavan, New Delhi - 110 011.

C (i) All amounts of Foreign Currency (FC) and Indian Rupee (INR) should be rounded off to the nearest thousand and the same should be indicated afteromitting '000, e.g. 10,499 and 10,500 should be shown as 10 and 11 respectively.

(ii) Capital letters should be used for filling up this form.

D. Additional sheets may be attached if the space available against a particular item is not sufficient.

E. Equivalent INR in respect of FC should be given as on the date of actual conversion.

F. Wherever boxes are provided in items requiring date, the first two boxes are meant for the date, next two for the month and next four for the year.

G. In respect of any item [excepting items 1,3(a) and 4(a)] if the contents have not undergone any change vis-à-vis the last APR, then indicate "NO CHANGE" inthe relative boxes/against the particular item.

H. In item 9(b) if separate break up of overdue amount as principal and interest is not available then the total figure may only be indicated under "Total" column.

I. In respect of all repatriations [c.f. Items 10 and 12(a)] supporting bank certificates (in form BCI) should be enclosed. If such certificates have already beensubmitting along with the Annual Return of Foreign Currency Shares or otherwise the reference thereof should be cited.

J. The total of year-wise break-up of outstanding entitlements given under Item 12(b) should tally with total outstandings as indicated under Item 12(a).

K. The note as per Item 15 of the APR should include the following -

(i) In case of non-satisfactory performance of the JV/WOS, the reasons cited at Item 14 should be briefly explained along with the necessary correctivesteps taken/proposed to be taken to bring about a turnaround.

(ii) The reasons for outstanding entitlements, if any, and the steps being taken to realise the same should be indicated.

(iii) The reasons for not meeting the target of non-equity exports, if any, and non-realisation of proceeds of such exports beyond 6 months, if any, should beexplained.

(iv) The reasons for the overdue outstandings in term/working capital loan accounts, if any, and steps taken to square up the same should be furnished. Thecircumstances leading to invocation of guarantees and non-payment of claim, if any, should also be explained.

(v) In respect of JV/WOS set up abroad for attracting foreign investment into India, information on the amount of foreign investment brought into Indiavis-a-vis the projections made in the application in Form ODI should be highlighted & reasons for shortfall should be explained.

(vi) Any special feature which is of importance to the functioning of the JV/WOS including information/developments relating to full), liquidation, etc. and does not figure elsewhere in this APR should also be highlighted.


30/06/2002 60

CURRENCY DECLARATION FORM (CDF)[See Regulation 6]

(Notification No. FEMA 6/RB-2000 dated 3rd May 2000.)Instructions for passengers:

1. This form need not be completed in cases where the aggregate value of the foreign exchangebrought in by the passenger in the form of currency notes, bank notes, or travellers cheques doesnot exceed U.S.$ 10,000/- or its equivalent and/or the value of foreign currency notes does notexceed U.S.$ 5,000 or its equivalent.

2. Passengers are advised to produce this form to a bank authorised to deal in foreign exchange ormoney changer at the time of conversion of foreign exchange into Indian rupees or reconversion ofrupees into foreign exchange.

3. Visitors to India may please note that in case they do not wish to encash all the foreign exchangedeclared above they should retain this form with them for production to the Customs at the time oftheir departure from India to enable them to take with them the unutilised balance.

4. Details of travellers’ cheques/currency notes need not be furnished.

5. Foreign tourists need not indicate their address.______________________________________________________________________________

(To be completed by passenger)I_____________________________________________________________________________hereby, declare that the following foreign exchange is in my possession at the time of my arrival in India: (Aggregate value only)

Name of the currency Currency notes Travellers Cheques Total

123

Signature____________________________Passport No._________________________

Nationality_________________________________________


30/06/2002 61

To be completed by Customs OfficerThis is to certify that the above named person has brought with him foreign exchange as

indicated above.

Date____________ _________________________________(Stamp and Signature of Customs Officer)

PTO

(Space for endorsement)

Date Distinctive Number ofEncashment Certificate

Amount changed Stamp and Signature of Bankor Money changer

1 2 3 4


30/06/2002 62

FORM ECB[ See Regulation 6]

(Notification No. FEMA 3/2000-RB dated 3rd May 2000.)

Application for permission to raise External Commercial Borrowingsunder Short Term Loan/Credit/USD 5/10 million Scheme

Instructions:

The application complete in all respects should be submitted in duplicate by the applicant through theauthorised dealer designated by him to handle the matters relating to the foreign currencyborrowings/credit to the Chief General Manager, Exchange Control Department, Central Office, ECBDivision, Reserve Bank of India, Mumbai 400 001. In respect of short term loan/credit for imports, itshould be submitted through the authorised dealer through whom the import documents have beenreceived/will be received.

Documentation:

Following documents, (as relevant) duly certified by authorised dealer, should beforwarded with the application:

(i) A copy of offer letter from the overseas lender/supplier furnishing complete details ofthe terms and conditions of proposed loan/credit arrangement.

(ii) Copies of FIPB/SIA/CCEA approvals wherever applicable.

(iii) In case the application is being made under Exporters’/Foreign Exchange Earners’Scheme, bank certificates in respect of export realisation for past 3 years.

(iv) If the applicant is NBFC, a copy of credit rating awarded by a recognised credit ratingagency and copy of RBI registration certificate.

(v) A copy of the import contract, proforma/commercial invoice/Bill of Lading.

(vi) A report from an international credit rating agency of repute, if the lender is other thanthe recognised category as per ECB Guidelines issued by the Government, from time totime.

(vii) In case the payment for import is through Letter of Credit, a copy of L/C withamendments, if any.

____________________________________________________________________________________


30/06/2002 63

PART- A- CATEGORY OF ECB APPLICATION

The application is being submitted under following scheme :

(Please put ( X ) in the correct box)

(1) Under short term credit/loan

(2) Under USD 5 million Scheme (3) Under USD 10 million Scheme

(a) Exporters’ /Foreign Exchange Earners’ Scheme

(b) Long Term Borrowers’ Scheme(c) Infrastructure Projects(e) Other (Please specify)

___________________________________________________________________________________PART-B- GENERAL INFORMATION ABOUT THE BORROWER

1. Name of the applicant(BLOCK LETTERS)

Address___________________________________________________________________________________2. Status of the applicant firm/ company Private Public NBFC

Sector Sector (Indicate RBIRegistrationNumber)

____________________________________________________________________________________

3. Details of foreign Currency Loans (ECB) availed of and/or approval obtained by the applicant during past 3 years under US$ 5 Million Scheme

RBI/GOI approval No. &date

Amountoutstanding

Due date of finalrepayment

4. Details of ECB parked abroad

Sr.No.

Name of the bank Amount in USDequivalent

No. & date of RBI permission obtainedfor parking funds abroad and validityperiod thereof


30/06/2002 64

PART-C-INFORMATION ABOUT THE PROPOSED LOAN/CREDIT___________________________________________________________________________________1. Details of the loan/credit

Currency Amount US$ equivalent

Purpose of the loan

Nature of ECB [Please put (x) in the appropriate box](i) Suppliers’ Credit(ii) Buyers’Credit(iii) Syndicated Loan(iv) Export Credit(v) Loan from foreign Collaborator/ equity holder(vi) FRN/ Bonds(vii) Others (please specify)

Terms and conditions of the loan(i) Rate of interest(ii) Up front fee(iii) Management fee(iv) Other charges, if any (Please specify)(v) All-in –cost(vi) Commitment fee(vii) Rate of Penal interest(viii) Period of loan(ix) Grace/ moratorium period(x) Repayment terms (half yearly/ annually/bullet)(xi) Average maturity

___________________________________________________________________________________2. Details of the lender

Name and address of the lender/supplier___________________________________________________________________________________3. Nature of security to be provided, if any.___________________________________________________________________________________PART D – INFORMATION ABOUT DRAW DOWN AND REPAYMENTS

Proposed schedule

Dawn down Repayment/paymentMonthAnd Year

Amount Principal Interest


30/06/2002 65

Part –E-Additional Information required for applications under Short TermCredit/Loan______________________________________________________________________________

1. Particulars of commodity (ies) to be imported DescriptionValue

2. Details of imports made/to be made

(A) (i) Payment Terms(ii) Due date of the import bill(iii) Extension sought upto(iv) If import has already been made

Value assessed as per Bill of Entry(Please enclose a copy)

(B) If goods are yet to be received(i) Date of shipment(ii) Whether goods have been sold on high

Seas or any such sale is contemplated?

3. Period upto which statement giving details of drawals, utilisation & outstanding has been submitted to RBI for loans raised in the past.

______________________________________________________________________________

PART F – ADDITIONAL INFORMATION IN RESPECT OF ECB UNDER USD 5./10 MILLION SCHEME

1. Details of the project

(i) Total project cost in USD(ii) Total ECB as a % of project cost

2. Export realisation ( USD equivalent) of theapplicant during the last 3 years[To be furnished only in case of applications underExporters’/Foreign Exchange Earners’ Scheme]

______________________________________________________________________________PART G – CERTIFICATIONS

1. By the applicant

We hereby certify that -

(i) the particulars given above are true and correct to the best of our knowledge and belief.


30/06/2002 66

(ii) the credit/loan to be raised will be utilised for the purpose for which it is being applied for videthis application and shall not be utilised for investment in stock market and real estate.

________________________________ (Signature of Authorised Official of the applicant)

Place_______________ Name:______________________________Date________________ STAMP Designation_______________________________________________________________________________________________________

2. By the authorised dealer –

We hereby certify that –

(i) the applicant is our customer.

(ii) we have scrutinised the application and the original letter of offer from the lender/supplier andalso all the documents relating to the import/proposed import, proposed borrowing /financingarrangement and have found the same to be in order.

________________________________ (Signature of Authorised Official)

Place ________________ Name_____________________________Date_________________ STAMP Name of the Bank/branch______________

A.D.Code________________________________________________________________________________________________________


30/06/2002 67

FORM FC-GPR

(Notification No. FEMA 20/2000-RB dated 3rd May 2000)

We (Name of the Indian Company) -----------

declare that, being eligible to issue shares to non-residents under the automatic route of RBI, furnish the followinginformation in connection with shares issued.

1. Name and address (Regd.office) of the Indian company issuing shares to non-residents.

2. Whether existing company or New company recently formed

3. Activities of the company

NIC Code Description ------------ ---------------

4. Particulars of shares issued

(a) Name and country of the foreign investor

(b) No. of shares issued : (Furnish equity & preference separately)

No. of shares Face value of shares Total face value

Issue Price At par (Rs.) / premium of Rs. per share

Total inflow on account of } Rs.issue of shares to non-residents}(including premium, if any) }

vide original FIRC from (Bank) -------------- enclosed.

(c)(i) We are listed company ; market related price per share is Rs. OR

(ii) Other company ; Fair value of share is Rs.

5. Capital structure of the company(after issue of shares as per item 4)

( Rupees ) Equity Preference

I. Paid up capital

II. (a) Non-resident Investment (i) NRIs/OCBs }

(ii) Others }

(b) Resident Investment ------------- ---------------


30/06/2002 68

Total ------------- ---------------

III. Existing percentage of } NRI/OCBs ------- %non-resident investment } Others ------- %in the paid up capital }

----------- [II(a) as percentage of I] Total % ----------- Declaration :

We hereby certify that

1. We have carefully followed the procedure for issue of shares under the automatic route of RBI.

2. The foreign entity(ies) (other than individuals) to whom we have issued shares does/do not have anyprevious joint venture or technical collaboration or trade mark agreement in India in the same or alliedfield.

3. We don’t require an Industrial Licence under the Industries (Development and Regulation) Act, 1951 orin terms of locational policy notified by the Government under the New Industrial Policy of 1991.

4. We are an SSI unit and the investment limit of 24% has been observed ORWe are not an SSI unit

(Delete whichever is not applicable under signature)

5. Our proposal is within the sectoral policy/cap permissible under the automatic route of RBI.

6. Our proposal does not fall under sector(s) in which FDI is not permitted. For ---------------- (Name of the company/seal)

______________________________ Signature (Name) : _____________________

* Designation : _____________________ Date : Place :

(* To be signed by senior official/responsible person in the company.)


30/06/2002 69

FNC 1(Notification No. FEMA 22/2000 dated 3rd May 2000- Regulation 5)

(Application to Reserve Bank for opening Branch or Liason or Project Office etc.)

A. General Instructions to Applicants :

The application form only should be completed and submitted to the Chief General Manager, ExchangeControl Department (Foreign Investment Division), Reserve Bank of India, Central

Office, Mumbai-400001.

B. Documentation :

i) English version of the certificate of incorporation/registration or Memorandum &Articles of Association attested by Indian Embassy/Notary Public in the country ofregistration.

ii) Latest Audited Balance Sheet of the applicant company/firm.

iii) In case of Project Office documentary evidence that the Project is funded by bilateral ormultilateral International Financing Agencies OR the project has been cleared by theconcerned regulatory authority OR the Indian company has been granted term loan for theconcerned Project by a Financial Institution or a Bank in India.

------------------------------------------------------------------------------------------------------------1. i) Full name and address of the

applicant company/firm [Statewhether the applicant is aproprietary concern orpartnership firm or limitedcompany or public sector

undertaking or any otherorganisation

(Please specify).

ii) Date and Place of incorporation / registration.

2. Details of capital

i) Paid-up capital _________________divided into ________shares of _______ each

ii) Free Reserves as per last audited Balance Sheet

3. Brief description of the activities


30/06/2002 70

of the applicant.4. FOR LIAISON / BRANCH OFFFICE i) Value of goods imported from

and / or exported to India by the applicant during each of

the last three years:

a) Imports from India

b) Exports to India

ii) Particulars of existing arrangements if any, for representing the company in India.

iii) Particulars of the proposed Branch/ Liaison Office

a) Details of the activities/services proposed to be undertaken/ rendered by the office.

b) Place where the office will be located.

5. FOR PROJECT OFFICE

If the office is to be opened on a temporary basis in connection with any specific project or contract to be executed in India by the applicant :

i) Brief description of the project/ contract, including terms of payment / duration, etc.

ii)Place where the office will be located

iii)Whether the project office is funded entirely by inward remittances or by any other source

specified at B (iii)

6. Any other information which the applicant company wishes to furnish in support of this application.


30/06/2002 71

------------------------------------------------------------------------------------------------------------We hereby declare that :

i) The particulars given above are true and correct to the best of our knowledge andbelief;

ii) Our activities in India would be confined to the fields indicated in column 4(iii)(a) or5(i)above;

iii) If we shift the office to another place, we shall intimate the Reserve Bank of India; and

iv) We will abide by the terms and conditions that may be stipulated by Reserve Bank ofIndia if approval is given.

Place : (Signature of Authorised Official of the Applicant Company) Name:Date: Designation:


30/06/2002 72

Annexure ‘C’

[Notification No. FEMA 20/2000 –RB dated 3rd May 2000-Refer to paragraph 4(2) of Schedule I]

Return to be filed by an Indian companywho has arranged issue of GDR/ADR

1. Name of the Company :

2. Address of Registered Office :

3. Address for correspondence :

4. Existing Business (Please give the NICCode of the activity in which thecompany is predominantly engaged)

:

5. Details of the purposes for whichGDRs/ADRs have been raised.If funds are deployed for overseasinvestment, details thereof.

:

6. Name and address of the Depositoryabroad

:

7. Name and Address of the Lead/ManagerInvestment/Merchant Banker

:

8. Name and addresses of the Sub-Managersto the issue

:

9. Name and address of the Indiancustodians

:

10. Details of FIPB approval (Please quotethe relevant NIC Code if the GDRs arebeing issued under the Automatic Route)

:

11. Whether any overall sectoral cap forforeign investment is applicable. If yes,please give details.

:

12. Details of the Equity Capital

(a) Authorised Capital(b) Issued and Paid-up Capital (i) Held by persons Resident in

India

: Before Issue After Issue


30/06/2002 73

(ii) Held by foreign Investors otherthan FIIs/NRIs/PIOs/OCBs (A listof foreign investors holding morethan 10 per cent of the paid-upcapital and number of shares heldby each of them should befurnished)

(iii) Held by NRIs/PIOs/OCBs (iv) Held by FIIs.

Total Equity held by non –residents

(c) Percentage of equity held by non-residents to total paid-up capital

13. Whether issue was on private placementbasis. If yes, please give details of theinvestors and ADRs/GDRs issued to eachof them.

:

14. Number of GDRs/ADRs issued :

15. Ratio of GDRs/ADRs to underlyingshares

:

16. Issue Related Expenses :

(a) Fee paid/payable to MerchantBankers/Lead Manager

(i) Amount (in US $ etc.) (ii) Amount as percentage to the total

issue.(b) Other Expenses

17. Whether funds are kept abroad. If yes,name and address of the bank.

:

18. Details of the listing arrangement :Name of Stock ExchangeDate of commencement of trading

Certified that all the conditions laid down by Government of India and Reserve Bank of India have been compliedwith.


30/06/2002 74

Sd/- Sd/-Chartered Accountant Authorised Signatory of

the Company


30/06/2002 75

Annexure ‘D’[Notification No.FEMA 20/2000-RB dated 3rd May 2000-Refer to paragraph 4(3) of Schedule I]

Quarterly Return

1. Name of Company :

2. Address :

3. GDR/ADR issue launched on :

4. Total No. of GDRs/ADRs issued :

5. Total amount raised :

6. Total interest earned till end of quarter :

7. Issue Expenses and commissions etc. :

8. Amount repatriated :

9. Balance kept abroadDetails :

(i) Banks Deposits(ii) Treasury Bills(iii) Others (Please specify)

10. No. of GDRs still outstanding :

11. Company’s share price at the end ofthe quarter

:

12. GDR price quoted on overseas stockexchange as at the end of the quarter

:

Certified that funds raised through ADRs/GDRs have not been invested in stock market or real estate.

Sd/- Sd/-Chartered Accountant Authorised Signatory of

the Company


30/06/2002 76

IPI(Notification No.FEMA 21/2000-RB dated 3rd May 2000- See Regulation 5 )

Declaration of immovable property acquired in Indiaby a person resident outside India

Instructions:

The declaration should be completed in duplicate and submitted directly to the ChiefGeneral Manager, Exchange Control Department, (Foreign Investment Division – III),Reserve Bank of India, Central Office, Mumbai-400 001 within 90 days from the date ofacquisition of the immovable property.

Documentation:

Certified copies of letter of approval from Reserve Bank obtained under section 6(6) ofFEMA, 1999 (42 of 1999).

1 Full name and address of theacquirer who has acquired theimmovable property

2 (a) Description of immovableproperty

(a)

(b) Details of its exact location statingthe name of the state, town andmunicipal/survey number, etc.

(b)

3 (a) Purpose for which the immovableproperty has been acquired

(a)

(b) Number and date of ReserveBank’s permission, if any,

(b)

4 Date of acquisition of theimmovable property

5 (a) How the immovable propertywas acquired i.e, whether byway of purchase or lease

(a)

(b) Name, citizenship and address ofthe seller/lessor

(b)


30/06/2002 77

(c) Amount of purchase price andsources of funds.

(c)

I/We hereby declare that –

(a) the particulars given above are true and correct to the best of my/our knowledgeand belief ;

(b) no portion of the said property has been leased/rented to, or is otherwise beingallowed to be used by, any other party .

Encls:…………………………………. (Signature of Authorisedofficial) StampPlace………………… Name……………………………….

Date…………………..Designation:………………………..


30/06/2002 78

LEG[Notification No.FEMA 13/2000-RB dated 3rd May 2000-See Regulation 6]

Application for remittance of legacies, bequests orinheritances to beneficiaries resident outside India

Instructions:

1. The application should be completed and submitted through an authorised dealer through whom theremittance is sought to be made to the office of Reserve Bank under whose jurisdiction the applicantresides.

Documentation:

2. Certified copy of the probate together with a copy of the Will annexed thereto, or letters of administrationor succession certificate, as the case may be, in respect of the Indian assets of the deceased person.

3. Tax Clearance/No Objection Certificate from the Income-Tax authorities to show that no liabilities areoutstanding in respect of the estate of the deceased person on account of Income-tax, Wealth-tax, CapitalGains tax, etc.

4. A statement of Indian assets of the deceased person, indicating the form in which they are held. Thenumber and date of Reserve Bank's approval for holding or acquiring shares of Indian companies andimmovable property should be indicated, wherever applicable.

5. A certificate from a Chartered Accountant showing how the remittable amount has been arrived at and thatall liabilities of the estate in India have been met or adequately provided for.

1. Particulars of the deceased person : 1.(i) Name (i)(ii) Nationality (ii)(iii) Country of permanent residence at the time of

death(iii)

(iv) Date and place of demise (iv)(v) Whether the deceased was residing in India at

any time during his life time; if so, stateperiod

(v)

2. Particulars of the beneficiary/ies : 2.(i) Name/s (i)(ii) Nationality/ies (ii)(iii) Country/ies of permanent residence (iii)

3. Whether the deceased person had made any investmentsin India, if so, details as under :

3.

(i) Investments made on non-repatriation basis (i)


30/06/2002 79

(ii) Investments made with repatriation benefits (ii)

4. Amount of remittance applied for 4.

I/We hereby declare that the particulars given above and the documents submitted herewith are true andcorrect to the best of my/our knowledge and belief. I/We also declare that I/We have not made any application toany other office of the Reserve Bank of India for the same purpose.

Place : ............................. ........................................Date : .............................

(Signature/s of Applicant)


30/06/2002 80

ODA(Ref H-18)

(Notification No. FEMA 19/RB-2000 dated 03.05.2000 dated 03.05.2000Master Cir.No.EC.CO.PCD.No.53/15.02.76/2001-2002 dated 04.04.02)

DIRECT INVESTMENT IN JOINT VENTURE(JV)/WHOLLY OWNED SUBSIDIARY (WOS)ABROAD UNDER AUTOMATIC ROUTE

To

For use by RBI only(Name and address of the authoriseddealer)

Date of receipt: Inward No.

IdentificationNo,

[All amounts in Foreign Currency(FC) and Indian Rupees (INR),should be in thousand only)

I. GENERAL

Nature and category of the investment [Please tick(a )the appropriate box] :

A. Fresh Proposal B. Supplementary Proposal(i)Participation in JV abroad (a)(i)Enhancement of equity in

existing JV/ WOS abroad

(ii)Contribution in WOS (ii) Grant/enhancement of loan inexisting JV/WOS

(iii)Full/partial* take over of anexisting foreign concern

(iii) Extension/enhancement ofguarantee

(iv)Acquisition of a companyoverseas through bidding ortender procedure

(iv)Others (Please specify)

(*Strike out whichever is not applicable)

II - PARICULARS OF INDIAN PARTY(a)Name and Address of the Indianparty


30/06/2002 81

(b)Date of incorporation (c) Status*

(d)Name of the Industrial House/ Group to which theIndian party belongs

(e)(i)Existing line of activity of the Indian party (Pleasetick the appropriate box)

(ii)Brief particulars of the products manufactured/goodstraded/services rendered

Manufacturing Trading Financial Services Non-Financial Services Others (please specify)

(f)Years of experience in the existing line of activity

(g)Financial details for the last three years (Amount in INR)

FinancialYear ending

Domesticsales/turn-

over

Foreign exchangeearnings from exports

(excluding equity exportsto existing JV/WOS)

Foreignexchange

earnings (otherthan exports)

Net profit/(Loss)

Paid-upcapital

Net worth

(1) (2) (3) (4) (5) (6) (7)

*(a)Public Ltd.Company (1), (b) Private Limited Company (2) (c)Public Sector Undertaking (3), (d) Others (4) (Please specify)

(h) Particulars of EEFC Account (Amount in FCY)

Account No. Balance as on Name of the Bank/Branch

(i)Particulars of ADR/GDR funds raised (applicable only where the proposed investment is funded fully/partly outof ADR/GDR funds (Amount in FCY)

(i) Date of issue (iv)Amount utilised so far

(ii) Amount issued (v)Out of (ii) above, amountutilised for overseas investments


30/06/2002 82

(iii)Issue Price (vi)Balance available (Pleaseindicate where the funds havebeen parked)

III - PARTICULARS OF THE FOREIGN PARTNER / CONCERN (a)Date of incorporation :

D D M M Y Y Y Y

(b) Address of the foreignpartner/concern

(c)Years of experience in the proposed field of collaboration :

(d)Financial details during the last three years :

(Amount in FCY)ounting year ending Sales/

turnoverNet fixed

assetsNet Profits/

(loss)Paid-upcapital

Net worth

(1) (2) (3) (4) (5) (6)

Particulars of JV/WOSne of activity of the proposed JV/WOS(Please tick the appropriate box)

(ii)Brief particulars of the productsmanufactured/goods traded/servicesrendered

Manufacturing

Trading

Financial Services

Non-financial services

Others (Please specify)

Location (country) of the proposed JV/WOS :

Time-frame for project implementation of the project :

Accounting year followed in host country :

(Amount in FCY)

project -

uipment


30/06/2002 83

ssets erative expenses

ify )

JV/WOS

% to total equity (ii) By foreign collaborator % to total equity

partial/full take over of an existing foreign concern, the total cost of acquisition may be furnished. A certificate from a charteredness of the acquisition price should be enclosed.

(Amount in FCY)

Amount Period Rate ofInterest

TL* WC **TL

WC TL WC

WC

** WC = Working Capital

um of equity and term loan as given at (b) and (c)) above (Amount in FCY)

tingent liabilities Amount Period Remittancetowards invoked

guarantee


30/06/2002 84

ribution by Indian party (Amount in FCY)

Amount

nge from the marketcesroceeds

port proceedsher dues (Please specify)

Indian

Party

Foreign

Promoter

VII.Profitability Projections of the overseas JV/WOS (Amount in FCY)

Years of operation 1 2 3 4 5 Total

(a)Gross sales/turnover (b)Net Profit(Loss)(c)Dividend(d)Net worth

VIII. Projected repatriable entitlements, if any (Amount in FCY)

Years of operation 1 2. 3 4 5 TOTAL

(a) Dividend(b) Others (Please specify)

TOTAL

IX.Projected non-equity exports(Amount in INR)

Years of Operation 1 2 3 4 5 TOTAL

FOB Value


30/06/2002 85

DECLARATIONWe hereby certify that (i) the information furnished above are true and correct, (ii) all the legal and otherformalities in India and the host country for the above investment have been/will be complied with, (iii)the amount of investment by way of equity/loan and 50% of the guarantee, either out of market purchaseof foreign exchange or the balances held in the EEFC account, utilisation of ADR/GDR proceeds,capitalisation of exports/other entitlements is within the limit of US$ 50.00 mn. In a block of three years asper extant regulations and (iv) no investigations by Directorate of Enforcement are pending against us and(v) our name is not in the Exporters’ Caution List of the Reserve Bank.

____________________________Place: ___________ (Signature of authorised official)Date : ___________ Stamp/Seal Name:-------------------------------- Designation---------------------------List of enclosures :

1. 4. 2. 5.

3. 6.


30/06/2002 86

Certificate by Authorised Dealer

Forwarded to Reserve Bank of India, Exchange Control Department, ________ Regional Office for informationand necessary action.*It is certified that the remittances in the manner indicated at VI above towards overseas investment have beeneffected by us after obtaining/verifying the documents prescribed in terms of AD/MA Circular No. Dated2000/ Foreign Exchange Management (Transfer and Issue of Foreign Security) Regulations, 2000.*It is certified that remittance towards claim under the invoked guarantee indicated at V(d)above have been made after satisfying that the guarantee has been invoked in accordance withthe terms and conditions of its issue.

* Where applicable.

___________________________Place: (Signature of authorised official)

Date Stamp/Seal Name:--------------------------------- Designation---------------------------


30/06/2002 87

Certificate by Statutory Auditors of the Indian party

It is certified that the terms and conditions contained in AD/MA Circular No. Dated

/Foreign Exchange Management (Transfer & Issue of Foreign Securities) Regulations, 2000

have been complied with by the Indian party in respect of the investment under report. In

particular, it is further certified that- (i) overseas investment is in the core activity area of the

Indian party, i.e. the activity which constitute at least 50% of the turn over of the Indian party

in the previous accounting year, (ii) the Indian party has earned net profit during the preceding

three accounting years, (iii) the investment is not in real estate oriented or banking business,

and (iv)* the amount of foreign exchange proposed to be purchased for remittance towards the

investment together with remittances already made and exports and other dues capitalised for

investment abroad during the current financial year under the Automatic Route is/will be

within 25% of the net worth of the Indian party as on the date of last audited balance sheet,

(v)**that the Indian party has (a) a minimum networth of Rs.15 crores; (b)has made net profits

during preceding three years, (c) has fulfilled the prudential norms of capital adequacy as

prescribed by the concerned regulatory authority; and (d) has been registered with the

appropriate regulatory authority in India for conducting financial services activity and (vi)***

proceeds of ADR/GDR being used for the investment is within 50% of the amount raised

abroad by way of ADR/GDR issues.

*Applicable if investment in part or full is funded out of purchase of foreign exchange from market and/or

capitalisation of exports & other dues.

**Applicable only in cases where the investment is in the financial services sector (e.g. insurance, mutual fund ,

asset management, etc.)

***Applicable where investment is funded, in part or full, out of ADR/GDR proceeds.

___________________________

Place: (Signature of Statutory Auditor)

Date Stamp/Seal Name:-------------------------------- Address:-----------------------------


30/06/2002 88

Instructions for filling up the Form ODA(This part should be detached and retained by the Indian party)

1.This form, in triplicate, should be submitted through authorised dealer at the time ofmaking remittance. In all other cases of financial commitment not involving remittance,the form in duplicate should be forwarded to the concerned Regional Office of theReserve Bank within 30 days of making invesments through the authorised dealer.2.The form should be complete in all respects and accompanied by (i) the prescribed certificate from theauthorised dealer, (ii) certificate from the statutory auditors in the format given in the form and (iii) certified copyof the resolution of the Board of Directors approving the investment. In respect of supplementary proposalsinvolving additional equity, loan or guarantee, the particulars furnished in form ODA submitted earlier in respectof the same JV/WOS need not be repeated; however, revised particulars, to the extent applicable, may only beindicated.3.All amounts, both in FC and INR, should be rounded off to the nearest thousand and thesame should be indicated after omitting ‘000, e.g.10,499 and 10,500 should be shown as 10and 11 respectively.4.Where there are more than one Indian party making investment in the same JV/WOSoverseas, form ODA should be submitted by all the Indian parties jointly to one AD alongwitha certificate(s) from other ADs, if remittances are effected by the latter.5.Wherever the initial investment in a JV/WOS has been made out of balances in the EEFCaccount/ADR/GDR proceeds, subsequent investment in such JV/WOS should not be madeunless the Indian party comply with the requirements applicable to investments under theAutomatic Route.6.In case where the Indian party is successful in the bid for overseas acquisitions for which ithas already made remittance towards Earnest Money Deposit or issued bid bond guarantee,under a bidding or tender procedure, it should, while effecting the final remittance towardssuch acquisition, submit a report in this form ODA to the authorised dealer for onwardtransmission to the concerned Regional Office of the Reserve Bank.


30/06/2002 89

ODB

(Ref H-18)

(Notification No. FEMA 19/RB-2000 dated 03.05.2000 dated 03.05.2000Master Cir.No.EC.CO.PCD.No.53/15.02.76/2001-2002 dated 04.04.02)

Application for issue of ADRs/GDRs on back to back basis foroverseas acquisitions

i) Name and address of the Indian Company :ii) Status of Indian Company [public limited :company, private limited company, publicsector undertaking or others (please specify)]iii) Name of the Industrial Group/House to :which the applicant company belongsiv) Date of incorporation :v) Existing line(s) of activity (activities) :vi) Financial particulars of the Indian :company for the last three years.

(Rs.in crores)Financial Domestic Forex Forex earnings Net Paid up Net worthyear ended Sales earnings (other than export Profits/ capital

by way of goods/services) (Loss)_________ _______ ______ ______________ ______ ______ ________ (1) (2) (3) (4) (5) (6) (7)_________ _______ ______ ______________ ______ ______ _________________ _______ ______ ______________ ______ ______ _________________ _______ ______ ______________ ______ ______ ________

vii) Particulars of the existing overseas JV/WOS set up /acquired by the applicantcompany and its operational details for the last three years.(Amount in foreign currency / million)Name of the overseas Approval No. Name of Amount of investmentconcern and its issued by RBI Foreign Equity Loan Guaranteelocation_________________ ____________ ________ _____ ____ ________ (1) (2) (3) (4) (5) (6)_________________ ____________ _________ ______ _____ _________________________ ____________ _________ ______ _____ _________________________ ____________ _________ ______ _____ ________


30/06/2002 90

Average Amount repatriated to India Profit (loss) Net worth asAnnual Dividend Other Exports during the per the lastTurnover entitlements realised last year balance sheet_______ _______ _________ ______ _________ ___________(7) (8) (9) (10) (11) (12)_______ ________ _________ _______ _________ ___________________ ________ _________ _______ _________ ___________________ ________ _________ _______ _________ ___________________ ________ _________ _______ _________ ____________

vii) Amount of blanket approval limit being sought for and the justification therefor .(Please see the instructions)viii) If the applicant company or its sister concern/promoters/directors are under Exporters’Caution List of the Reserve Bank or their affairs are under investigation by Directorateof Enforcement/other law enforcing agencies, the brief particulars thereof and thepresent position may be indicated here.

Declaration

It is hereby certified that the information furnished above is true and correct. It is furthercertified that all the legal and other regulations/requirements in India and the host country ofacquisitions will be complied with when the transactions for the acquisitions are put throughafter obtaining necessary approval from the Reserve Bank.Place ______________ Stamp/Seal _________________________________

Signature of the authorised officialDate ______________ Name _____________________________

Designation _________________________List of enclosures:1 42 53 6

Instructions for filling up the form ODB

1. The form complete in all respects should be submitted in triplicate to the Chief GeneralManager, Reserve Bank of India, Exchange Control Department, Central Office,OverseasInvestment Department, Amar Building, Mumbai – 400 001.

2. For foreign currency, SWIFT codes may be used.

3. The application should be accompanied by a statement from a Chartered Accountantcertifying that at least 80% of the average turn-over of the applicant company in the previousthree financial years is from the specified activities/sectors (viz Information Technology and


30/06/2002 91

Entertainment software, Pharmaceuticals and Biotechnology and other sectors as may be(notified from time to time) or the applicant company has an annual export earnings of at leastRs.100 crores in the three previous financial years from these activities/sectors.4. If any specific acquisition deal has been negotiated, the details thereof including the name ofthe overseas company being acquired, its performance for the last three years, share exchangeratio , acquisition price, valuation report from the Investment Banker and the likely benefits tothe acquiring company may also be furnished as an Annexure.5. A brief write-up incorporating, inter alia, the tentative business plan of overseasacquisitions, country of location of such foreign companies and their line of activity andfinancial and operational particulars, rough estimates of acquisition cost and the basis thereof,likely benefits to the applicant company and the country from such acquisitions, such as,synergy between operations, dividend and other inflows, access to technology, incrementalexports, etc. should be enclosed to this form. The information furnished will be keptconfidential.


30/06/2002 92

ODI

(Ref H-18)(Notification No. FEMA 19/RB-2000 dated 03.05.2000 dated 03.05.2000Master Cir.No.EC.CO.PCD.No.53/15.02.76/2001-2002 dated 04.04.02)

Application to Reserve Bank of India for Direct Investment in a JointVenture/ Wholly Owned Subsidiary Abroad

For office use only

Date of Receipt ---------------------------Inward No. ---------------------------

Part A - General

I. Brief Particulars of proposed Investment

(i) Financial commitment(in FCY) -------------(ii) Country of location ------------------------

(iii) Nature of Investment

(A) Investment in a new project OR (B) Investment in an existing project (i.e.(i.e. fresh proposal) supplementary proposal)

Please indicate 13 digit Approval/Identification No. issued by RBI

Purpose of Investment Purpose of Investment

(a) Participant in JV (a) Enhancement of equity of theexisting JV/WOS

(b) Contribution in WOS (b) Grant of/Enhancement of loan

(c) Full acquisition of a (c) Extension/Enhancement of

All amounts of foreigncurrency (FCY) &IndianRupees (INR) should bein thousands only, i.e.,‘000 should be omitted


30/06/2002 93

foreign concern Guarantee(d) Partial acquisition of

a foreign concern(d) Others (Please specify)

(e) Others (please specify)

II. Line of Activity of the JV/WOS (Please tick the relevant box)

(a) (i) Manufacturing (b) Brief particulars of products to be(ii) Trading Manufactured/goods to be traded / services(iii) Financial to be rendered(iv) Non Financial Services ----------------------------------------------------(v) Others (Please specify) ----------------------------------------------------

III. Proposed capital structure of the JV/WOS (a) Indian Party (ies) % stake (b) Foreign Partner(s) % stake in equity in equity

1. ------------------------- ---------- 1. ----------------------------- -----------

2. -------------------------- ---------- 2. ----------------------------- -------------

3. ------------------------- ---------- 3. ------------------------------ -----------

Part –B - Particular of Indian Party(ies) and Foreign Partner(s)indicated at A. III above.

I. Indian Party (Cases where there are more than one Indian party, information may be given on separate sheets foreach of the parties)

(i) Name & Address ___________________________________________________________

(ii) Date of Incorporation _____________ (iii) Date of Commencement __________ of Business

(iv) Status * _____________ (v) Existing Line of Activity ____________

(v) Years of experience in the line of Activity. ______________

(vi) % of Non-resident interest in the share capital of the Indian Party ______________

* (a) Public Ltd. Company (1), (b)Private Limited Company (2), (c) Public Sector Undertaking (3), (d) Others (4) (Please specify).


30/06/2002 94

(vii) Financial particulars of the Indian Party for the last 3 years

AccountingYearending

Domesticsales

Foreign exchangeearnings fromexports(excluding equityexports to existingJV/WOS)

Foreignexchangeearningsother thanfromexports

NetProfit/(Loss)

Paid-upcapital

Net worth

(1) (2) (3) (4) (5) (6) (7)123

(viii).

Particulars of existing Joint Ventures (JV) and Wholly Owned Subsidiaries (WOS)already in operation or under implementation ,of the Indian party and its group concernsand foreign exchange earnings from these concerns :

(Amount in FCY) Sr. No

Name ofIndian Party

Name ofJV/WOS/Country

Approval No.allotted byReserve Bank

Amount of investment

Equity Loan Guarantee (1) (2) (3) (4) (5) (6) (7)

12345

Total Repatriations (R) vis-à-vis Entitlements (E)(entitlements & repatriations in the last 3 years to be givenin brackets)

Total non-equity of export made so far(figures for last three years to be given inbrackets)

Dividend Others Projectedexports

Exportsmade

Outstanding, ifany

(E) (R) (E) (R ) (8)

(9) (10) (11) (12) (13) (14)

1.2.3.4.5.


30/06/2002 95

II. Particulars of the Foreign Partner(s)/concern(To be filled in case of foreign investment in JVs only. Cases where there are more than oneforeign partner, information may be given on separate sheets for each of the collaborators)

(a) Name & Address of the foreign partner/concern: _____________________ __________________

(b) Date of incorporation(c) Years of experience in the

proposed field of collaboration(d) Financial particulars of the foreign partner/concern during the last 3 years:

(Amount in FCY)

AccountingYear ending

Sales Netprofits/(loss)

Paid-upCapital

Networth

Dividend %

(1) (2) (3) (4) (5) (6)____________ _____________ __________ _________ ___________ ___________

__________ ___________ _________ ________ _________ ___________________ ___________ _________ ________ _________ _________

Part –C - Performance of the JV/WOS(To be filled in case of supplementary proposals only)

I. Date of latest Annual Performance Report (APR) submitted to Reserve Bank

D D M M Y Y Y Y

II. Date of Incorporation III. Date of commencement ofbusiness

D D M M Y Y Y Y D D M M Y Y Y Y

IV. Capital structure of the JV/WOS (Amount in FCY)

(a) Indian Equity Approved % age to Actual %age to

Amount total equity investment total equity (i) (ii) (iii) (iv)

(b)Mode of Indian equity investment


30/06/2002 96

(i) Cash Remittance(ii) Capitalisation of

(a) Exports of plant

& Machinery/goods

(b) Others (Please specify)

(iii) GDR/ADR proceeds

(iv) Swap of shares

(v) Bonus shares

(vi) Out of EEFC balances

(vii) Others (please specify)

Total :

(c) Foreign equity: i) Amount _________ ii ) % to total equity ___________


30/06/2002 97

V. (a) Position of Term Loan (TL) /Working Capital (WC) Loan availed of by JV/WOS

(Amount inFCY)

Amount approved Outstandingamount

Overdue amount , if any

TL WC TL WC TL WCTotal

TL + WC

(i) From IndianParty

(ii)From foreign partner(iii) FromIndian banks/financialinstitutions

(iv) Others ( Please specify)

Total:

(b) Position of guarantees extended to JV/WOS (Amount in FCY)

Amount ofguaranteeapproved/extended

Amountinvoked/claimed(if any)

Date ofInvocation

Amount paid sofar

(i) By IndianParty

(ii)By foreignparty

(iii)By banks/financialinstitutions inIndia(iv) By banks/financialinstitutionsoutside India(v) Others(Please specify)

VI. Operational details of the JV/WOS for the last three years (Amount in FCY)


30/06/2002 98

(Year ended) (Year ended) (Year ended) (1) (2) (3)(i) Gross Sales/Turnover(ii) Net Profit/(Loss)(iii) Dividend(iv) Net Worth

VII. Entitlements(E) and Repatriation ( R) from the JV/WOS

(During the last ( Since commencement ( Total outstanding year ended) of business) entitlement due for repatriation)(i) Dividend(ii) Others* (Please specify)(iii) Non equity exports realised(iv) FDI Inflows

* ( Royalties, technical know-how fees, consultancy fees, etc.)

VIII. Present proposal in brief with supporting reasons:________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________


30/06/2002 99

Part-D- Financial Package of JV/WOS

(If the project is to be implemented in phases, separate sheets showing phase-wise distribution of costshould be attached and only the total of all the phases should be indicated below)

I. Rate of exchange applied for the projections.

1 US $ = INR ________

FCY ______ _Units = US $ ________

II. Estimated cost of the project * (Amount in FCY)

(i) Cost of capital equipment

(ii) Cost of land

(iii) Cost of civil works

(iv) Cost of misc. fixed assets

(v) Preliminary & preoperative expenses

(vi) Contingencies

(vii) Others (Please specify)

Total : * In case of supplementary proposals, the revised cost of the project may be indicated


30/06/2002 100

III. Financing of the estimated project cost:

Equity

Amount of % age toEquity total Equity

Term loan(TL)/Working Capital (WC)

Amt. Period. Rate of Interest

Guarantee

Amount Period

(A) By IndianParty(ies)

(i)(ii)(iii)SubTotal :

(B) By ForeignPartners

(i)(ii)(iii)Sub-total

C) By Banks/Fis/othersi)ii)iii) Sub Total

Total of A to C


30/06/2002 101

(Equity share capital plus term loan above should be equal to the total cost of the project as at II above.)IV Method of Investment (Amount in FCY)(a) By the Indian party

(i) Cash remittance(ii) Capitalisation of

(A) Export of plant &machinery/goods

(B) Others (Please specify)(iii) ADRs/GDRs raised abroad(iv) Swap of shares(v) Others( Please specify)

Total(b) By the foreign partner

(i) Cash(ii) Fixed assets(iii) Loans(iv) Others (Please specify)

Total(c) Funding of Indian investment

(i) Self-generated funds(ii) Assistance under Overseas

Investment Finance Schemeof the EXIM Bank, ifapplicable

(iii) Resources raised throughADRs/ GDRs

(iv) Loans from banks/financialinstitutions

(v) Out of balance in EEFCAccount

(vi) Swap of shares(vii) Others (Please specify)

Total


30/06/2002 102

V. Management of the foreign concern. (Whether the Indian party will have managementcontrol? If yes, give brief particulars of management/managerial functions to be discharged bythe Indian party).

PART - E – Financial projections of the fresh/ revised financial projections in case ofsupplementary investment proposals

I. Profitability Projections: (Amount in FCY)Years of operation

1 2 3 4 5(a) Gross sales/turnover(b) Operating cost

excluding depreciationand interest

(c) Depreciation(d) Interest

(i) On term loans(ii) On Working

Capital loans(e) Tax(f) Net Profit)/(Loss)(g) Dividend(h) Transfer to reserves(i) Accumulated reserves

& surplus /(loss)(j) Net-worth

II. Repatriable entitlements of Indian Party, net of host country tax, during the next 5 yearsof operation (Amount in FCY)

Years of operation

1 2 3 4 5 Total(a) Dividend(b) Technical know-

how fees(c) Royalty(d) Engineering/

Technicalservices fees

(e) Consultancy/Management fees

(f) Selling agencycommission

(g) Others (Pleasespecify )


30/06/2002 103

Total

III. Projected for non equity/incremental exports (Amount in INR)Years of operation

1 2 3 4 5 TotalFOB Value

IV. (a) Whether the applicant party/ies, its promoters, directors, etc. have come underinvestigations by Enforcement Directorate. If yes, the brief details thereof including present stage ofinvestigation/adjudication/manner of disposal of the case should be furnished.

(b) Whether the promoter Indian party/ies is/are presently on the Exporters’ Caution -list ofRBI for non-realisation of export proceeds. If so, the present position may be indicated.

V. Any other information relevant to this proposal, including any special benefits/incentivesavailable in the host country for setting up/acquiring the proposed concern:

VI. Name and address, telephone, telex and fax numbers of the branch of the authorised dealerthrough whom remittance towards the investment will be made.________________________________________________________________________________________________________________________________________________________________________________________________________________________


30/06/2002 104

[ DECLARATION ]

I/We hereby certify that the information furnished above are true and correct.

PlaceDate: __________________________

(Signature of authorised official)

Name:………………………… Designation …………………..

List of enclosures :

1. 4.2. 5.3. 6.

***************

Stamp/S


30/06/2002 105

ANNEXURE

Instructions for filling up the Form ODI(This part should be detached and retained by the applicant)

(1) Application complete in all respects must be submitted in three sets together with the followingdocuments to the Chief General Manager, Reserve Bank of India, Exchange Control Department,Central Office, Overseas Investment Division (OID), Amar Building, Mumbai - 400 001 :

(a) Draft Joint Venture Agreement (or Memorandum & Articles of Association in the case of aWholly Owned Subsidiary) specifying the equity structure, management, rights andresponsibilities of shareholders and also draft agreement(s) for supply of technical know-how, management and other services, if applicable.

(b) A detailed project/feasibility report incorporating, inter alia, projected funds flow statementand balance sheets for five years, the information on various leverage and profitability ratioslike debt-equity ratio, debt service coverage ratio, return on investments, etc. of the foreignconcern accompanied by the statement from a Chartered Accountant certifying the ratiosand projections, given in the application/report.

(c ) A report from the bankers of the Indian party in sealed/closed cover.

(d) The latest Annual Accounts, i.e. Balance Sheet and Profit and Loss Account alongwithDirectors’ Report of the Indian party.

(e) Additional documents as under, if the application is made for partial/full take over of an existing foreign concern :-

(i) A copy of the certificate of incorporation of the foreign concern;

(ii) Latest Annual Accounts, i.e. the Balance Sheet and Profit and Loss Account alongwithDirectors’ report of the foreign concern ; and

(iii) A copy of the share valuation certificate from a Chartered Accountant/Auditors’ firm.

(f) A copy of the resolution of the Board of Directors of the Indian party/(ies) approving the proposed investment.

(g) Where investment is in the financial services sector, a certificate from a Chartered Accountant/Auditor's firm to the effect that the Indian Party :

(i) has earned a net profit during the preceding three years from the financial services activity;

(ii) is registered with the appropriate regulatory authorities;


30/06/2002 106

(iii) has a minimum net-worth (paid-up capital and free reserves) of not less than Rs.15 crores as onthe date of last audited balance sheet; and

(iv) has fulfilled the prudential norms relating to capital adequacy as prescribed by the concernedregulatory authority in India.

2. Where there are more than one Indian promoter of the JV/WOS, only one application should besubmitted on behalf of all the promoters.

3 (a) In case an Indian party is seeking approval for acquisition of overseas concern throughbidding/tender procedure (with/without remittance of any earnest money deposit (EMD)/issue of bidbond guarantee), Indian Party should approach the Reserve Bank atleast one month in advance fromthe last date for submission of bid to the overseas authority with the following documents :

(i) application in form ODI, to the extent applicable;

(ii) certified relevant extracts of the terms and conditions of bid;

(iii) Chartered Accountant’s certificate indicating the valuation of shares and assets of the overseas concern justifying the acquisition price, where applicable; and

(iv) a project/feasibility report.

(b). In the case where the bid is won by the Indian Party but the terms and conditions of theacquisition are different from those furnished earlier to the Reserve Bank, the Indian Party should applyafresh to the Reserve Bank in form ODI for prior approval before putting through the transaction.


30/06/2002 107

ODR

(Ref H-18)(Notification No. FEMA 19/RB-2000 dated 03.05.2000 dated 03.05.2000Master Cir.No.EC.CO.PCD.No.53/15.02.76/2001-2002 dated 04.04.02)

ODR

Report on Remittances for Overseas Direct Investment by Authorised Dealers

All amounts in Foreign Currency(FCY) and IndianRupees (INR) should be in thousand only.

For use by RBI onlyDate of Receipt Inward No.Identification No.

Name and address of : ___________________________________________________the authorised dealer ___________________________________________________ ___________________________________________________

Telephone No. : _____________________FAX No. : _____________________e-mail : _____________________A.D. Code : _____________________.

If the investment is in the existing JV/WOS, please indicate Identification/Approval No.already allotted :No.

I. GENERALNature and category of the investment [Please tick ( a) the appropriate box] :A. Fresh Proposal B. Supplementary Proposal (i) Participation in JV abroad (i) Enhancement of equity in

existing JV/WOS abroad (ii) Contribution in WOS (ii) Grant/enhancement of

loan in existing JV/WOS(iii) Full/partial* takeover of an existing foreign concern

(iii) Extension/enhancement of guarantee

(iv) Acquisition of a company (iv) Others (Please specify)


30/06/2002 108

overseas through bidding or tender procedure(* Strike out whichever is not applicable)

II. PARTICULARS OF INDIAN PARTY(a) Name and Address of the _______________________________________________

Indian party _______________________________________________ _______________________________________________

Telephone No. : _____________________ FAX No. : _____________________ e-mail : _____________________(b) Status*(c) Name of the Industrial House/Group to which the Indian party belongs

(d) (i) Existing line of activity of the Indian party (Please tick the appropriate box)

(ii) Brief particulars of the products manufactured/goods traded/services rendered

Manufacturing

Trading

Financial Services

Non-Financial Services

Others (please specify)

(e) Years of experience in the existing line of activity :* (a) Public Ltd. Company (1), (b) Private Ltd. Company (2) (c) Public Sector Undertaking (3), (d) Others (4) (Please specify)

III. PARTICULARS OF THE FOREIGN PARTNER/CONCERN(in case of JV)(a) Details of the foreign partner/concern Name : ____________________________________________________ Address : ____________________________________________________ ____________________________________________________ Telephone No. : ________________________________ FAX No. : ________________________________ e-mail : ________________________________(b) Years of experience in the proposed field of collaboration :

IV. PARTICULARS OF JV/WOS(i) Name and Address of the _______________________________________________ JV/WOS _______________________________________________ _______________________________________________

Telephone No. : _____________________ FAX No. : _____________________ e-mail : _____________________


30/06/2002 109

(ii) Country of location:(iii)Line of activity of the JV/WOS

(Please tick the appropriate box)(iv) Brief particulars of the products manufactured/ goods traded/services rendered

(a) Manufacturing

(b) Trading

(c) Financial Services

(d) Non-financial Services

(e) Others ( Please specify)

(v) Percentage holding by Indian Party (in case of JV) :

Percentage holding by foreign partner(in case of JV) :

(vi) Time-frame for implementation of the project :(vii) Accounting year followed in the host country :

V. PROFITABILITY PROJECTIONS OF THE OVERESEAS JV/WOS (Amount in FCY)**

Years ofOperation

1 2 3 4 5 Total(a) Gross sales/turnover(b) Net Profit(Loss)(c) Dividend(d) Net worth

VI. PROJECTED REPATRIABLE ENTITLEMENTS (Amount in FCY)**

Years of Operation1 2 3 4 5 Total

(a) Dividend(b) Others (Please specify) Total

VII. PROJECTED NON-EQUITY EXPORTS (Amount in INR)

Years of Operation1 2 3 4 5 Total

FOB Value


30/06/2002 110

VIII. DETAILS OF REMITTANCES EFFECTEDInvestments under Automatic Route/approval issued by Reserve Bank(Strike out whichever is not applicable)Currency**Amount of the proposed investment :Equity Loan Guarantee(Invoked) Date of Remittance

Details of actual remittance effected :(a) From EEFC A/c.Equity Loan Guarantee(Invoked) Date of Remittance

(b) By Market PurchasesEquity Loan Guarantee(Invoked) Date of Remittance

(c) From the ADR/GDR funds parked in India/outside India (Strike out whichever is not applicable)Equity Loan Guarantee(Invoked) Date of Remittance

(d) Capitalisation of Exports/Other dues @Date of capitalization: Amount:(e) Guarantee issued: Amount:@ Please specify the other dues being capitalised viz., royalty, technical know-how fee, consultancy fees, etc.** Please indicate name of the foreign currency(FCY) as per SWIFT code.


30/06/2002 111

We hereby confirm that the remittance* has been allowed under the Automatic Route based on thecertification given by the statutory auditors (in form ODA) confirming compliance with the prescribed

terms and conditions by the Indian party/*is in accordance with the terms and conditions of the approvalletter issued by the Reserve Bank./*in respect of the invoked guarantee has been made after satisfying that

the claim is in conformity with the terms and conditions of the guarantee issued to/on behalf of theJV/WOS abroad.

* strike out whichever is not applicable

Place _________________ ____________________________ Signature of the Authorised OfficialDate __________________ of the Bank

Name : ____________________

Designation : __________________

Tel.No. : __________________

FAX No. : __________________

Note :

This form should be forwarded to the Overseas Investment Division, Central Office, Exchange

Control Department, Reserve Bank of India, Amar Building(Third Floor), Fort, Mumbai 400

001 immediately after making the remittance/capitalisation of exports, other dues, etc.

Stamp/Seal


30/06/2002 112

orm TS 1

(Notification No. FEMA 20/2000-RB dated 3rd May 2000- see regulation 10 –B)

Application for transfer of shares of a company registeredin India by a non-resident to a person resident in India

Instructions :

1. The application should be completed in duplicate and submitted to the concerned Regional Office ofReserve Bank under whose jurisdiction the Head/Registered Office of the company, whose shares are to betransferred, is situated if the transferor is a foreign company/foreign national resident outside India.

2. The application may be signed either by the transferor or the transferee attaching therewith consent inwriting of the other party or a copy of the sale/purchase agreement.

Documentation :

1. Photocopies of Reserve Bank’s approval(s) for acquiring and holding shares by the transferor, if specificapproval was grtanted by Reserve Bank for holding/acquisition of shares, if applicable.

2. In case the shares proposed to be transferred are listed on a Stock Exchange, a certificate from aChartered Accountant certifying the average quotation (average of daily high and low) for one weekpreceding the date of application.

3. In case of unlisted/thinly traded shares, valuation of the shares on basis of any valuation methodology invogue, if the total consideration is upto Rs.20 lakhs.

4. In case of unlisted/thinly traded shares where the total consideration exceeds Rs.20 lakhs, two valuationcertificates for the shares of the company, one from the statutory auditors of the company and the otherfrom an independent Chartered Accountant/SEBI registered Category-I Merchant Banker.

Or

Documentary evidence showing Price Earnings (PE) and Book Value (BV) multiples of BombayStock Exchange National Index (BSEN) for the calendar month immediately preceding the date ofapplication and a certificate showing the Earnings Per Share (EPS) and Net Asset Value (NAV) of theshares of the company as per the latest audited Balance Sheet.

________________________________________________________________

1. Particulars of the transferor

A. If the transferor is a corporate body

(i) Name and address

(ii) Place of incorporation

(iii) Total shareholding in the investee


30/06/2002 113

company

(iv) Particulars of Reserve Bankapproval/s for acquiring/ holdingshares

(v) Number and face value of theshares proposed to besold/transferred

B. If the transferor is an individual

(i) Full name and address

(ii) Number of shares held in theIndian company

(iii) Reserve Bank’s approvalnumber/s and date(s) (if any) foracquiring/ holding the shares

(iv) Number and face value of sharesproposed to be sold/transferred

2. Particulars of the Indian company whoseshares are to be sold /transferred

i) Name and address

ii) Place of incorporation

iii) Total paid –up capital No. of shares Amount

a) Equity

b) Preference

c) Held by Equity Preference

i) Non-resident : No. ofshares

Percentage tototal paid-upequity shares

No. ofshares

Percentage tototal paid –uppreferenceshares


30/06/2002 114

(a) Foreign nationals/Corporate bodies [ otherthan included in (b)below]

(b) NRIs/Overseas corporate bodiespredominantly owned by NRIs

ii) Residents:

(a) Indian Promoters(b) Others

Total

3. Particulars of the buyers/transferee:

(i) Name and address

(ii) Place of incorporation

4. Whether the shares are quoted on a recognised StockExchange ?

Yes/No

(i) If the shares are quoted on the StockExchange, whether the sale is proposedto be effected on the floor of the StockExchange to the general public at thePrevailing market price?

Yes/No

(ii) If the sale (of the quoted share) is by wayof private arrangement, please furnishthe following:

(a) the average of quotations (average of dailyhigh and low) for one week preceding thedate of application duly certified by aChartered Accountant. [item 2 underDocumentation]

(b) the proposed sale price

5. If the sale/transfer is of non-listed as well as listed but notregularly traded shares, the proposed sale price [to besupported by a Chartered Accountant's certificate asindicated in Item 4 under Documentation]

6. Whether the transferor/transferee requires any permissionunder the Companies Act/MRTP Act. If so, whether suchpermission has been received from the appropriateauthority.

7. Reason for the proposed sale/transfer of shares

8. Any other information which the applicant wishes to


30/06/2002 115

furnish in support of this application.

I/We declare that the particulars given above are true and correct to the best of my/our knowledge andbelief.

Place:.................. ........... ...............................................Date :.................. (Stamp and signature of the transferor/

transferee as the case may be)


30/06/2002 116

FORM A2 AD CodeNo._____________________________(for payments other than imports and FormNo._________________________________remittances covering intermediary trade) (To be filled in by the Authorised Dealer)

Serial No.________________________________

(For use of Reserve Bank of India)Application for Remittance Abroad Currency ____________Amount_____________

Equivalent toRs.___________________________

(To be completed by AuthorisedDealer)

I/We wish to purchase/transfer____________________________________________________

(Name of currency and amount in words)through_____________________________________________________________forpayment

(Name and address of Authorised Dealer)to___________________________________________________________________________

(Name and address of the beneficiary)by remitting the amount / by credit to the accountof___________________________________

(Full title of the account & country of non-resident bank and name of AD with whom account is maintained)

_____________________________________________________________________________for the purpose indicated below:(Remitter should put a tick (ü) against an appropriate purpose code. In case ofdoubt/difficulty,consult your banker.)Code Purpose Code PurposeCapital Account Transactions InsuranceS001 Investment in shares abroad by residents S501 Life insurance premiumS002 Investment in Debt Securities abroad by residents S502 General insurance premiumS003 Investment is branches/subsidiaries abroad by S503 Reinsurance premium

Residents S504 Insurance commissionS004 Investment in real estate abroad by residents S510* Other insurance paymentsS005 Repatriation of foreign investment in shares Other ServicesS006 Repatriation of foreign investment in Debt Securities S601 Postal/Telecom servicesS007 Repatriation of foreign investment in subsidiaries/ S602 Projects abroad

Branches S603 Band charges/commissionS008 Repatriation of foreign investment in real estate S604 Soft/Hardware consultancy, servicesS009* Loans to non-residents S605 Subscription to periodicals, Correspondence coursesS010* Repayment of LT/MT loans S606 Computer and IT servicesS011* Repatriation of NR deposits S607 Royalty, License feesS012 Repayment of ST (6 m. to 1 Yr.) Loans S608 Professional service, Technical feesS013 Repayment of loans/ODs by banks S609* Refunds and rebates on tradeS014 Notional sale for credit to NRI deposits S610* Other remittancesS015* Other capital account payments Government, Not included elsewhereOther import payments not covered by form A1 S701 Maintenance of Indian EmbassiesS103 Imports by diplomatic mission S702 Remittance by Foreign EmbassiesS104 Imports under intermediary trade TransfersTravel S801 Foreigner's family maintenance


30/06/2002 117

S301 Business travel S802 Private gift/donationS302 Travel for Medical purpose S803 Grants/donations to charity by GovtS303 Travel for education S804 Contribution by Govt. to international institutionsS304 Basic Travel Quota (BTQ) S810* Other transfersS305 Travel for pilgrimage IncomeS310* Other travel payments(Including credit card) S901 Interest on NRI depositsTransportation S902 Interest on loansS401 Shipping transport - Remittance by fgn. Cos. S903 Dividends, profitsS402 Air transport - Remittance by fgn. cos. S904 Interest on debentures/bonds

S403 Shipping transport - Remittance by Indian cos. S905 Interest on ODs in Nostro A/c.S404 Air transport - Remittance by Indian cos. S906 Salary of Non-residentsS405 Freight on imports S910* Other incomeS406 Freight on exportsS407 Charter hire charges (Airline cos.)S408 Charter hire charges (Shipping cos.)S409 Booking of passage in foreign countriesS410* Other transportation (e.g. demurrage, etc.)

*Please give full details __________________________________________________________________________________________________________________

I / We hereby declare that the statements made by me / us on this form are true and that I / we have notapplied for an authorisation through any other bank.I / We declare and understand that the foreign exchange to be acquired / payment to be made by me /uspursuant to this application shall be used / made by me / us only for the purpose for which it is acquired/ to be made and that the conditions subject to which the exchange/permission is granted will becomplied with.I/We desire to travel to __________via___________for the purpose of___________________Passage has been booked through_________________________________________________

(Name of airline/shipping co. or passage agent)

____________________The date of departure is ______________The exchange is required in theform of

Currency AmountNotes & Coins _______________ ______________TCs _______________ ______________Draft _______________ ______________Letter of Credit _______________ ______________Total _______________ ______________

Name of Applicant (s) ______________________ Nationality of Applicant (s) _____________Address of Applicant (s) _________________________________________________________

_________________________________________________________

Date ----------------- Signature of Applicant(s)/Authorised Official(Space for comments of the Authorised Dealers)While forwarding the application to Reserve Bankof India for approval, reference to ECM paragraph / ADcircular in terms of which the reference is madeshould invariably be cited.)Approval for similar remittances was obtained from the Reserve Bank of India vide permit No._________________ dated _________________.

___________________________________


30/06/2002 118

(Stamp and Signature of Authorised Official)Name & Designation ……………………………………….Name & Address of Authorised Dealer ……………………

Date ______________

Certificate to be furnished by Authorised Dealers (Applicant's Banker)

We hereby certify thatA. the remittance has been made

In terms of authority delegated to authorised dealers vide paragraph __________ ofthe Exchange Control Manual and / or AD Circular No. ______________________dated __________________________orIn terms of Reserve Bank Permit No. ________________ dated ___________________

B. all the Exchange Control regulations applicable to the remittance have been compliedwith.

C. documentary evidence in support of the payment has been verified.D. payment to the beneficiary has been/will be made through______________________

______________________________________________________________________________

(Name and address of the designated bank in ACU member country)

_______________________________________(Stamp and Signature of Authorised Official)Name & Designation ……………………………………….Name & Address of Authorised Dealer ……………………

Date: ____________


30/06/2002 119

BBI(Ref : C-4)

(Paragraph 7 v. of Annexure 1 A.D.(M.A.Series) Cir. No.11 dated 16.05.2000)

Statement showing the particulars of shipments underinward air/sea cargo consolidation during the periodfrom ………………….…. to ………………………..

Name of the overseas consolidator :

Name and address of the Break-bulk agent in India :

Particulars of inbound shipments on prepaid/charges collect basis

(in foreign currency)*MAWB

MBLParticulars of HAWB/HBL* Details of charges claimed by the

overseas consolidatorHAWBHBL

Sr.No.

No. Date

No. Date

Prepaid Chargescollect

Freight Insurancepremium

Certificate oforigin

charges

Miscellaneous(to be

Specified)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.

Eligible amount(8+11) – (9+10)

Breakbulk fees/agencycommission/other charges

Profit share Net amount to beremitted [12 – (13 or 14)]

12. 13. 14. 15.


30/06/2002 120

The aggregate amount required to be remitted is ……………………………………………. (in foreign currencyas shown in Form A2)

Note: Separate statements should be submitted for air/sea cargo consolidation.

_________________________________Place: ________________ (Signature of Authorised Official)

STAMP

Date _________________ Name:___________________________

Designation:______________________* Strike out whichever is not applicable.


30/06/2002 121

BBX 1

(Ref: C-5)(Paragraph 7 v. of Annexure I A.D.(M.A.Series) Cir.No.11 dated 16.05.2000)

Particulars of Break-bulk Agents appointed abroad by Air/Sea Cargoconsolidators in India for movement of consolidated air/sea cargo from India

Instructions:

1. A copy of this form should be submitted to the Office of Reserve Bank under whosejurisdiction the Head / Registered office of the applicant firm / company is situated, throughauthorised dealer with whom the agency arrangement is registered.

2. Parts A and C are to be filled up in case of fresh arrangements; Thereafter, the informationas in Part B may be submitted as at the end of every year within one month from the closeof the year alongwith the documents listed in item 5 below.

Documentation:

3. Certified copies (in duplicate) of agreements/correspondence exchanged with break- bulkagents proposed to be appointed abroad.

4. Certificate of membership of *International Air Transport Association (IATA) and AirCargo Agents Association of India (ACAAI)/Sea Cargo Agents Association, if any inoriginal together with photocopies, held by the applicant.

5. Auditor's/Chartered Accountant's Certificate furnishing the following data pertaining to theprevious year Ä

(a) total freight amount collected from exporters against *air/sea cargo consolidated,(b) total amount of freight paid to airlines/shipping companies against *air/sea cargo

consolidated,(c) total remuneration paid/payable to break-bulk agents abroad.

PART A

1. Name and address of the Head/Principal Office of theapplicant Cargo Agent

2. IATA Code Number of the applicant (for air cargo agentsonly)

3. Whether the applicant is a member of the *Air/ Sea CargoAgents Association of India

4. Name of the company in whose name the *House Air wayBill/Bill of Lading will be issued (copy to be enclosed)


30/06/2002 122

5. Location in India where *air/sea cargo will be consolidated(any new location added after the application should beadvised separately to the Reserve Bank)

6. (a) Names and addresses of break-bulk agents proposed tobe appointed abroad (indicating their IATA CodeNumbers in case of air cargo consolidation) If space isnot sufficient, a separate list may be attached

(a)

(b) Term of Remuneration payable to the break-bulkagents/profit sharing ratio

(b)

7. Nature of services to be rendered by the break-bulk agentsabroad

8. Name and address of the authorised dealer through whom theremittance to agents abroad will be made


30/06/2002 123

PART B

9. Total freight amount collected from exporters against cargoconsolidated during the previous year

10. Total freight amount paid to airlines/shipping companiesagainst air/sea cargo consolidated during the previous year

11. Total freight difference earned by the cargo agents againstcargo consolidated during the previous year (9-10)

12. Total remuneration paid/payable to break-bulk agentsduring the previous year


30/06/2002 124

PART C

DECLARATIONWe hereby confirm that:

(a) The particulars etc. given above are true and correct to the best of our knowledge andbelief.

(b) No application for release of exchange has been or will be made to any other authoriseddealer in respect of the appointment of break-bulk agents by us.

(c) All the expenses/remuneration payable to the break-bulk agents will be borne by theapplicant firm/company.

(d) We shall abide by the code of conduct framed by the *Air Cargo Agents Association ofIndia (ACCAI) or Sea Cargo Agents Association and undertake to abide strictly by theterms and conditions prescribed by the Reserve Bank if this application is approved.

Place : ………………... ………………………………...Stamp

(Signature of Authorised Official)Date : ………………… Name: ……………………………………

Designation: ……………………………..(Signature on behalf of a firm should be that of the senior partner/proprietor and of anauthorised official in case of a company)

* Strike out whichever is not applicable.


30/06/2002 125

BBX 2


(To be submitted in duplicate)

Statement of air/sea* cargo consolidation made by …………………………………………. during the month ……..91 ……(Name and address of Consolidator)

Sr.No.ofconsoli-dation

Name andaddress ofExporter

GRFormNo.

Country ofdestinationof the cargo

FreightcollectedfromExporter

HBLHAWBNo.Dt.

*MBLMAWBNo.

Name ofAirline/ShippingCompany

Freightpaid toAirlineShippingcompanies

Name andaddress ofBreak-bulkAgentabroad

Remarks

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

1.

2.

3.

4.

Total


30/06/2002 126

We confirm that the above statement is a complete list of all consolidations done during themonth.

We also confirm that the freight amounts collected from the exporters are in conformity withthe consolidation * air/sea freight tariffs submitted by us to the Ministry of Commerce,Government of India.

We also enclose copies of certificates issued by us to Airlines/Shipping companies togetherwith the original declarations submitted to us by the individual exporters confirming that theexports are on 'freight prepaid basis'.

We certify that consolidation has been done in strict conformity with the Exchange Controlregulations in force.

Original *MAWB/HBLs with copies of relative *HAWBs/MBL are enclosed.

Place : ………………... …………………………………...Stamp

(Signature of Authorised Official)Date : ………………… Name: ……………………………………

Designation: ……………………………..* IATA Code No. ………………………..



30/06/2002 127

CAS(Ref: C-3,C- 4 & C-5)

(Paragraph 7 v. of Annexure I A.D.(M.A.Series) Cir.No.11 dated 16.05.2000)

Statement of export shipments made on 'charges collect' basis andrepatriation of the funds involved for the month ended .......199

(To be submitted in duplicate)

Name of the freight forwarder:_____________________________________________________Address & Phone No.

____________________________________________________________________________________________________________________

__

Part 'A' Charges collect shipments sent

Details of export shipmentsSr.No.

Name of theoverseas agent

MAWB *MBL No. & date/

HAWB *HBL No. &date

Destination Freight paidto *shipping/airlinecompany

Rs.,

Charges to becollected byagent abroad

U.S.$

(1) (2) (3) (4) (5) (6) (7)

(i) Shipments of earlier months for which payments were to be received at the beginning of the month

(1)(2)(3)(4)

(ii) Shipments sent during the month(1)(2)(3)(4)

Part 'B': Repatriation of charges collectedDetails of export shipmentsSr.

No.Name of theoverseasagent MAWB *

MBL No. &date/

HAWB *HBL No. &date

Destina-tion

Chargesto becollectedU.S.$

Chargesreceived

U.S.$

Date ofReceipt

BBA’sfees(6-7)

(1) (2) (3) (4) (5) (6) (7) (8) (9)

Notes: (i) Copies of relevant MAWB/MBL & HAWB/HBL should accompany Part 'A'________________________________

Place:Stamp

(Signature of authorised official)


30/06/2002 128

Name: ___________________________Date: Designation: ______________________


Certificate from the Chartered Accountant

Certified that the particulars furnished above have been verified with reference to thebooks of account and bank certificate verified for the inward remittance received for thepurpose as per column 7 above.

Place: Signature :

Date: Status :

Chartered AccountantRegistration

No.________________________


30/06/2002 129

DIC


Certificate to be furnished by an importer in support of payment of freighton goods moving in consolidation by *air/sea

We hereby certify that an amount of Rs.......... paid by us towards import freight in

respect of goods moved against *House Airway Bill / Bill of Lading No............ dated ...................

of M/s.................................is required to be borne by us. We also certify that no freight amount

has been paid by us earlier in respect of these goods and that the freight amount has also not

been included in the supplier's invoice for the above goods.

Place: Signature of the authorised officialStamp

Date: Name :Designation :Name & full address of importer :Import-Export Code No.:



30/06/2002 130

ECB 2

(Notification No. 3/2000-RB dated 3rd May 2000)

Details of actual transactions of Foreign CurrencyLoans/Financial Lease (other than short-term

foreign currency Loans)

Statement for the quarter ended.........

Instructions

1. This statement should be submitted in duplicate, to Reserve Bank within 10 days from theclose of the quarter to which it relates furnishing details of all types of foreign currencyborrowings viz. foreign currency loans, suppliers' credits, bonds, convertible bonds,FRNs, cross-border financial lease, etc. If there are no transactions during a particularquarter, a "Nil" statement indicating only the outstanding balance of the loan/creditshould be submitted.

2. One copy of this statement should be accompanied by an Annexure in the attached form,alongwith a complete set of documents towards utilisation of loan/credit. The informationfurnished in the Annexure should be certified by the statutory auditors/CharteredAccountant.

3. In case of suppliers' credits, the dates of imports are to be given in place of dates ofdrawals.

4. For utilisation of drawal following codes should be used -

1 - Import of capital goods2 - Import of raw material3 - Remittance to India4 - Pre-payment of old loans/repayments5 - Amount held abroad in Foreign Currency account6 - Interest payment7 - Payment for Technical services8 - Others (Specify)

5. For source of funds following codes should be used -

A - Remittance from IndiaB - From FCL funds held abroadC - From foreign currency account held abroadD - Conversion of equity capital


30/06/2002 131

E - From export proceeds held abroadF - By debit to EFC/EEFC account in IndiaG - Others (Specify)

6. If repayment schedule indicating exact dates of payments has not been submitted at thetime of agreement, the same should be given with this statement. Any revision inrepayment schedule made subsequently should also be indicated.

7. All dates should be given as YYYY/MM/DD such as 1996/06/30 for June 30, 1996.

8. Indicate tranche Number if the loan is multi-tranche, for items 5, 6 and 7.

1. (a) Government Loan Key Number :

(b) RBI Registration Number :

2. Name & address of Borrower/Lessee :

[For RBI use]

3. Currency and Amount of Loan :[For RBI use]

4. Country of lender :[For RBI use]

5. Drawdown Transaction during the quarter - Tranche No. :

No. Date of drawal/Import (seeinstruction 3)

Currency Amount Amount of loan approved but notyet drawn

6. Utilisation during the quarter - Tranche No. :

No. Date Purpose (only codes) (seeinstruction 4)

Country Currency Amount


30/06/2002 132

7. Debt Servicing - Remittances during the quarter - Tranche No. :

Date of remittanceNo. PurposeDue date Actual date of

remittance

Currency Amount Source (only codes) [seeinstruction 5]

1. Principal

2. Interest

3. Others(specify)

8. Amount of loan/credit outstanding at the end of the quarter -

Currency Amount[For RBI use]

9. Country to which remittance sent[For RBI use]

10. Repayment schedule :

i) Number of instalments

ii) Number of payments in a year :

iii) Currency and amount of :each instalment

[For RBI use]iv) Date of first payment :

(YYY/MM/DD)

v) Date of final payment :(YYYY/MM/DD)

(If instalments are of unequal amount or are not regular, furnish details of each instalmentwith date and amount in the following format by way of a separate sheet)

No. Date (YYYY/MM/DD) Currency Principal Interest


30/06/2002 133

We hereby certify that the particulars furnished above are true and correct to the best of ourknowledge and belief.

We confirm that prior approval of Reserve Bank of India/Authorised Dealer was obtainedby us by submitting applications in form ECB 3 in respect of all the remittances made by us asdescribed above.

Place :Stamp (Signature of Authorised Official of

Date : the borrower/lessee)

Name :Designation :

[Certificate by an Authorised Dealer]

We hereby certify that the information furnished above with regard to debt servicing,outstandings and repayment schedule is true and correct as per our record.

Place :Stamp (Signature of Authorised Official

Date :Name

Designation

Name & Address ofAuthorised DealerUniform Code No.


30/06/2002 134

[Space for use of the Reserve Bank of India]

This statement has been scrutinised as per instructions contained in the Book ofInstructions and circulars issued from time to time and found to be in order. Code numbersagainst items nos.2, 3, 4, 8, 9 and 10(iii) have been supplied in the relevant boxes. Further, theidentification details of the loan/credit in question have been agreed with the correspondingentries in the statement furnished earlier to DESACS vide Form 83. Information supplied inthis statement has been posted in the register in Form 85.

Assistant Manager Date

Reserve Bank of India,Exchange Control Department,

ANNEXURE TO ECB 2

Details of utilisation of foreign currency loan/credit

[This supplementary statement should be submitted with ECB 2 with acomplete set of documentary evidence in support of utilisation of loan/credit,till such time the loan/credit has been fully utilised and all the relativedocuments submitted to Reserve Bank]

Report for the period ended________________

1. Name of the borrower :

2. FCL Registration No. :

3. Government Loan Key No./ :Sanction No.

We state that we were permitted to raise a foreign currency loan/creditfor ________________from______________________________________________________

(amount)for the purpose_________________________________________________________________

We hereby certify that the amount of loan/credit has been utilised by us fully/partly forthe approved purpose strictly in accordance with the terms and conditions of the loan approvedby Government of India and Reserve Bank of India.


30/06/2002 135

The details of utilisation are as under:

1. Loan utilised for the purpose of –2. A) If it is for Imports -

(a) Description of goods imported :

(b) Value of imports :

(c) Particulars of documentary evidence :in support of above imports(Enclose the following documents)

i) Original Invoice No. & date :

ii) EC copy of Bill of entry :for Home Consumption(No. & date)

iii) EC copy of import licence, :if any - No. & date

iv) Others (specify)

B) If it is for a purpose other than forimports, please state -

(a) Purpose :

(b) How actually the foreign currency :has been disposed/utilised?

(c) Documentary evidence in support of (b) :[Enclose relevant documents)

2. Any other information -

3. The unutilised amount of loan stands parked in our accountNo._____________________with_________________________________________________________________________

(Name and address of bank)and its utilisation will be reported in the next ECB 2 statement(s). We note that if we decidenot to utilise this balance amount, we shall report the details to Reserve Bank and seek furtherinstructions.


30/06/2002 136

4. We certify that the information furnished above is true and correct. No materialinformation which may affect the Reserve Bank decision to allow the remittances connectedwith this loan/credit, has been withheld by us.

5.* We certify that we sanction and disburse foreign currency loans to ourcustomers/borrowers strictly in accordance with the terms and conditions approved byGovernment of India and Reserve Bank of India and ensure that the funds are utilised by thoseborrowers for the purpose for which the loans are disbursed to them.

Date: ___________ _____________________________(Authorised signatory)

[Affix here stamp/seal of the Name: __________________________ corporate office of the authorised signatory] Designation: __________________________

Full address: ______________________________________________________________________________

* [For financial institutions who are permitted to raiseforeign currency loans for on-lending purposes]


30/06/2002 137

[Statutory Auditor's/Chartered Accountant's Certificate

We hereby certify that the foreign currency loan/credit permitted to be raised by RBIvide its letter No.____________________________________dated___________________________and bearing Registration No. ______________________________________ has been raisedby ______________________________________ from__________________________________

(Name of the borrower) (Name of lender/lessor)and duly accounted for in its books of account and related record. Further, the loan has beenutilised by the said borrower for the declared purpose of______________________________________________________________________________as approved by Government of India vide its letterNo._________________________________dated _________________. We have verified all the relevant documents and record connectedwith the utilisation of loan/credit and found these to be in order in accordance with the termsand conditions of approval granted by Reserve Bank as also the provisions of ExchangeControl Manual, 1993 Edition and to our satisfaction.

(Authorised Signatory)

Place : NameStamp Address

Date : Registration No.

[ FOR OFFICE USE ]


30/06/2002 138

ECB 3((Notification No.FEMA 3/2000-RB dated 3rd May 2000)

Application for repayment/payment of principal/interest and othercharges under Foreign Currency Loans/Credits

(other than short-term foreign currency loan/credit)

Instructions

(i) The borrowers should submit this application to Reserve Bank or to the authorised dealer (wheregeneral permission has been granted by Reserve Bank for making remittances connected with theforeign currency loan/credit), complete in all respects.

(ii) Request for proposed remittance should be strictly in accordance with the terms and conditions of theloan as approved by Government of India and Reserve Bank of India and the loan agreement taken onrecord by Government of India.

(iii) Please do not omit anything from this statement; delete under proper authentication whatever is notapplicable.

(iv) Request for payment of penal interest should invariably be accompanied by approval for it from theconcerned office of Reserve Bank.

(v) Please ensure that statement in form ECB 2 for the last calendar quarter has been submitted to theconcerned office of Reserve Bank and an acknowledgement in respect thereof is enclosed to thisapplication.

(vi) This statement should be submitted to the authorised dealer even where the repayment/payment ofprincipal/interest and any other charges connected with the loan/credit is to be made from anyforeign currency account being maintained by the borrower in India or abroad.

This has reference to the foreign currency loan/credit taken by us from ..............................., as per detailsgiven below: (Name of the lender/lessor)

i) Government of India's approval No. and date andsubsequent amendments, if any.

:

ii) Loan key number allotted by Government. :

iii) RBI's approval No. and date and subsequentamendments, if any

:

iv) Loan Registration Number allotted by RBI :

v) Amount of loan/credit approved :

vi) Amount of loan/credit actually availed of :

vii) Amount of loan/credit outstanding :


30/06/2002 139

viii) Rate of interest as approved by Government/RBI :

ix) Commitment fee :

x) Other charges( specify) :

2. The loan/credit has been drawn in full/has not been drawn in full for the reasons(s) ……………………….The balance amount is proposed to be drawn during ...........................…………………………………………………/is not to be drawn any more, because......................................…………………………………………………………

2.1 The loan amount is/was parked with .............................………….….……… ……………………………. (Name of bank and country)It has been fully utilised / not fully utilised.

*2.2 The account has been closed and unspent balance of ....................………………... has been repatriatedto India / surrendered to Authorised Dealer under advice to RBI vide our letter No............................ dated.................

OR*2.2 The account opened with RBI permission vide its letter No........................................dated................is still being maintained by us with the present balance being................................. for thereason(s).................................................................... and, therefore, RBI's approval for remittance of principal and/orinterest is hereby sought/has been obtained, vide its letter No...........................................................dated....................

* Strike out whichever is not applicable

3. The loan was availed of for the purpose of .............................. The documentaryevidence in support of utilisation of the loan has been submitted to Reserve Bank of India, .................……………..on .............. along with statement in form ECB 2 for the quarter(s)(Name of the RBI office)ended .............. vide letter No ............................................. dated .................. The asset acquired with the assistanceof loan/credit in question continues to be held with us and on our books of accounts.

4. The principal amount of the loan/credit is repayable in ..... half-yearly instalments,commencing from................... We have already repaid ...………….. instalments and the next instalment No.......... isnow due for repayment.

We have already paid interest up to half-year ended .................... Now interest ispayable for the half-year ended/ending........................

The following charges relating to the above foreign currency loan as approved byGovernment of India and Reserve Bank of India, ..………..........…....., are now due for payment: (Name Office)

Sr.No. Purpose (specify) Amount

(i)

(ii)(and so on)

The above payments shall be made through ..............................………………….(Name of authorised dealer)

(OR)5.1 We have not been able to pay principal/interest for the period...........for the reason(s)


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................................................................................................................................. Accordingly, we have defaulted inthe payment terms and attracted thereby penalty of penal interest in terms of clause/article No.......................of theloan agreement dated......... between us and the lender, which has been taken on record by Government of India videits letter No..................... dated ………................Penal interest is payable on …………...... for……………....... daysat the rate of ......and the payment to be made works out to ............. We request RBI to grant approval for thispayment.


(OR)*5.1 We have since taken RBI's approval vide its letter No. ........…………......................…....dated .................. (copy enclosed) for making payment of penal interest.

5.2 We have earlier defaulted on .... occasions and a total sum of ........................... hasalready been paid by us by way of penalty due to............................................

5.3 We are taking suitable steps to ensure that there should not be any default again inmaking repayment/payment on time as per the loan agreement in question. We are also keeping our Board ofDirectors fully informed of these defaults and have informed the Board that Reserve Bank of India views seriouslythe payment of penal interest by way of defaults.

6. We have submitted to Reserve Bank of India, ............................, the statement in Form(Name of Office)

ECB 2 for the last quarter ended..................and it has been acknowledged by that office vide its letterNo................................................ dated.............................................., a copy of which is enclosed.

7. We certify that the information furnished above is true and correct to the best of ourknowledge. The foreign exchange acquired by way of foreign currency loan / credit in question has been utilised byus for the purpose for which it was acquired under approval from Government of India and Reserve Bank of India.The proposed re-payment/payment of ..........…………………………........................is -[Principal/Interest/ Other charges (specify)]

(i) strictly in accordance with the terms and conditions of the loan agreement taken on recordby the Government of India and subsequent amendments approved by Government of India and Reserve Bank; and

(ii) it is outstanding and has not been paid earlier through any other authorised dealer or in anyother manner whatsoever.


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8. In view of the foregoing, we request the Reserve Bank of India/ ……........……..............(Name of the authorised dealer)

to: permit us to make the following remittances:

Sr.No. Purpose Amount

(i)

(ii)

9 The payment of interest / penal interest is exempt from payment of tax in terms ofGovernment's letter No............................................... dated....................(copy enclosed)/is not exempt from paymentof tax and accordingly, NOC/TCC from the competent authority is enclosed.

10. Any other information.

Encl: __________________________________(Authorised signatory)

Name: ___________________________________Designation: ________________________________Full address: ________________________________

Stamp ________________________________________________________________

Place :………….Date :………….

[FOR OFFICE USE]


30/06/2002 142

MTR


Particulars of (A) on carriage, agency commission, etc. charges to be remitted abroadand (B) Payments on oceanfreight/slot-hire charges made to shipping companies in Indiain respect of export cargo(es) for the period from to

Name & address of the MTO

Address

Registration No. Validity of Registration upto

Part A: On carriage, agency commission, etc., charges to be remitted.

Sr MTD@ Freight Sr.No. of the Name of the Name of theNo. No. Date Pre-paid To collect container Transhipment Agent

Port1. 2. 3. 4. 5. 6. 7. 8.

TOTAL:

Port of Place of On carriage Agency Other Totaldischarge and delivery By Mode Charges in Commission charges (12+13+14)name of agent * foreignappointed currency

9. 10. 11. 12. 13. 14. 15.

Part B: Particulars of ocean freight/slot-hire payments

Sr. Name of the shipping Name of the Name of the Voyage No. Date ofNo. company agent in India Vessel sailing

1. 2. 3. 4. 5. 6.


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Sr.No. of the containers Name of the Hub Port/ Ocean freight/ slot-hire paidFCL LCL Transhipment port Date Amount (

7. 8. 9. 10.


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We hereby certify that the information contained in this statement is true and correct in every respect and givescomplete information of export containers handled by us and remittances effected.

Place:

Date: Stamp (Signature of Authorised Official)

We certify having allowed the remittance of on(item 15 of Part A)

(Signature of Authorised Official)NameDesignation

@ Adseriatim (all MTOs issued during the month)* Ocean, rail, road, Inland waterways etc.


30/06/2002 145

OBR


Application for permission to post a representative/establish office/branch overseas

Instructions :

1. The application together with the suppporting documents should be forwarded to the authoriseddealer/Reserve Bank as indicated in paragraph9B.1of the Exchange Control Manual.

2. Hotels,travel agents/tour operators may submit the form & other documents in duplicate.3. Concerned area/territory' means the countries/territories to be covered by the proposed branch/agent.4, The estimates of foreign exchange expenditure should be given I n units of foreign currency and the

appropriate rupee equivalent furnishing the exchange rate applied.5. Full particulars of any special export regulations (e.g.exports permissible only against confirmed letter of

credit,etc.) covering the applicant's products being exported should be furnished.

Documentation :

6. Correspondence,if any,in original together with photo copies there of regarding the arrangement made inforeign country for posting of representative/establishment of branch/office.

7. Bank certificates,in form BCX,together with photocopies thereof for the immediately preceding fourcalendar half years in support of export realisations (Item 7 of application)

8. In the case of a trading branch,cashflow statement in the proforma attached indicating the value of stock tobe held,percentage of marked-up price and projected income and expected profit margin should befurnished.

PART I GENERAL1. (a) Name and address of the applicant (a)

(b) State whether the applicant is a proprietary concernor partnership firm or limited company or publicsector undertaking

(b)

(c) Exporter's Code Number allotted by Reserve Bank (c)2. Nature of the applicant's business in India

(a) Exporter of commodities (a)(b) Exporter of software (b)(c) 100% Export-Oriented Unit (c)(d) Consultancy organisations/Construction company (d)(e) Others (please specify) (e)

3. (a) Names and addresses of applicant's bankers, inIndia

(a)

(b) Number of the EEFC account, if any, opened by theapplicant and the name of the AD with whom it isopened

(b)

4. If the applicant is holding a registration certificate as aStar Trading/ Trading Export House issued byGovernment of India, No. and Date of such certificate

5. Particulars of foreign currency balances/securities, ifany, held by the applicant - quote Reserve Bank'sapproval number and date


30/06/2002 146

PART II EXISTING BUSINESS6. What are the present arrangements for your

representation in the country/territory concerned ?Ifthere is any agency arrangement, its full details includingthe number and date of Reserve Bank's approval andcommission paid during the past three years.

(Rs. lakhs)Halfyear ended

Value of exports realised

global Territoriescovered by theproposed office

7. (a) Details of export realisations for the past two years

(1) (2) (3)

(b)Country

__________

Commodity

_________

Value of exportsrealised inRupees___________

(b) Also furnish commodity-wise/country-wise breakup of exports realised in the last two years

Year year

8. Value of export outstandings as on date of application(i.e., beyond the prescribed period of six months).Pleasefurnish brief particulars of such outstandings togetherwith RBI permission for extension, etc.

9. Particulars of existing overseas representativeoffices/branches/subsidiaries/agents of the applicant andalso of their sister concerns in India indicating theparticulars of remittance facilities from India.

PART III PROPOSAL(To be completed wherever applicable)

10. Does the applicant want to have(i) an agent (on fixed remuneration basis), or (i)(ii) a trading branch, or (ii)(iii) a representative liaison office/non-trading branch (iii)

11. Place and country of posting of agent/representativeoffice/branch

12 Territories/countries to be covered by the proposedagent/representative office/branch

13. Details of business to be conducted abroad by theagent/representative office/branch


30/06/2002 147

14. With the facility of the proposed agent/representativeoffice/branch what would be the projected exports of theapplicant in the coming two years

15. When the agent is appointed or tradingoffice/representative office/branch is opened, are theagency commission payment arrangements subsisting inthe concerned area or territories to continue ?If so,reasons therefor.

16. Will the representative office/branch result in saving offoreign exchange which would otherwise have to beexpended ?If so give details supported by figures andany documentary evidence available

17. If you propose to open a trading branch,please state(a) its exact nature of activities.(Firms/Companies in

India from whom the trading branch will be buyinggoods on principal to principal basis to be stated)

(a)

(b) Expected increase in the value of exports to theterritory concerned in the next 2 years(year-wise) inthe event of facility being granted

(b)

(c) the time within which the trading branch wouldbecome self-supporting indicating manner in whichthis will be achieved.

(c)

18. If a representative (on fixed remuneration) please state(i) Particulars of the agent/representative proposed to

be appointed(i)

(a) Name (a)(b) Nationality (b)(c) Permanent Address (c)(d) Present occupation (d)(e) Whether the agent/representative will

continue the present occupation after theproposed appointment

(e)

(ii) Remuneration proposed to be paid to the non-resident representative/locals appointed

(ii)

(iii) In the case of a representative to be deputed fromIndia, give detailed break-up of expenditureproposed to be incurred (in rupees) viz.,

(iii)

(a) Salary (a)(b) Accomodation (b)(c) Travelling allowance etc. (c)

19. If non trading office/trading branch, please furnish anestimate of foreignexchange requirements (in rupees)(a) Initial Establishment Expenses (a)

(i) advance rental/deposit for securingoffice/residential accomodation

(i)

(ii) other deposits (please specify) (ii)(iii) office equipment/furniture (iii)(iv) car (iv)(v) others (please specify) (v)

(b) Recurring expenses per month (b)(i) salaries of staff (give details if more than one

employee)(i)

(ii) warehousing charges (ii)(iii) Customs duties/charges etc. (iii)(iv) rent, (iv)(v) rates and taxes (v)


30/06/2002 148

(vi) Telephone/telex etc., (vi)(vii) Travelling expenses (vii)(viii) Others (specify) (viii)

We hereby certify that :

(a) The particulars given above are true to the best of our knowledge and belief.No application for release ofexchange has been or will be made to any other office of Reserve Bank in respect of permission soughtunder this application.

(b) All the expenses of the office/representative(s) detailed above will be borne by our firm/company.

We undertake to strictly abide by the instructions issued and the conditions that may be stipulated by ReserveBank.

Place : ...................... .............................................................(Signature of Authorised Official)

Date : ........................Stamp

Name: ..................................................Designation.........................................

(Note: Signature on behalf of the firm/company should be that of the Senior Partner/Proprietor or Director of thefirm/company, as the case may be)

(To be completed by the representative to be sent from India)

In the event of my being posted as a representative of the company/firm,I undertake to notify Reserve Bank immediately of any employment (full/part time) or agency work or businessundertaken abroad by me giving full details such as source of income, total earnings, etc.

Date: ................................. .................................................................(Signature of the person appointed asrepresentative from India)

Name:......................................................

Address:...................................................


30/06/2002 149

Cash-flow Statement(In the case of trading office)

1. Projected exports to the area during 3 years afterestablishment of the office

Year 1 Rs.

Year 2 Rs. LakhsYear 3 Rs. Lakhs

2. Average value of goods to be stockedRs.Lakhs at theoffice

Rs. Lakhs

3. Mark-up price proposed (as a percentage to purchaseprice to the office)

4. Margin of profit expected (as a percentage of purchaseprice)

5. Year 1 Year 2 Year 3Opening stockPurchases from IndiaSalesClosing stockGross profitEstablishment expensesSelling expensesAudit feesTaxesNet profit (+)/

loss(-)


30/06/2002 150

RCC(Ref: H 28)

(A.P. (DIR Series) Cir. No. 45 dated 14.05.2002)

Statement showing particulars of amount receivable/payable to the foreign courier company

1. Name of the Indian courier company :2. Full address :3. Registration No.

(allotted by Government of India):

4. No.& date of RBI letter for tie-up arrangement :5. Name and address of the foreign courier company :6. Amount receivable (supported by bank

certificate):

7. Amount payable :8. Net amount receivable/payable@ :9. Any other information :

Certified that the above particulars are correct. The following documents are enclosed.(i) Airway Bills (ii) Bank certificates (iii) Invoices (iv) Chartered Accountant's certificate (v) Certificateregarding rate, etc.


30/06/2002 151

CERTIFICATE BY CHARTERED ACCOUNTANT

The above particulars have been checked and are correctly reported as per Books of Accounts for remittancepurpose.Place : Signature: _____________________________Date : Name/Status: ___________________________

Regd.No.:______________________________

Forwarded to the General Manager, Exchange Control Department, Reserve Bank ofIndia,........... in terms of paragraph 8B.17 of the Exchange Control Manual.

Place : Signature: _____________________________Date :

Name & :______________________________Stamp

Designation :___________________________

@ Strike out inapplicable.


30/06/2002 152

REM(Ref : G-3)

(FEMA-GOI_Notification G.S.R.381 (E) Schedule III, Item 3Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item3)

Application by resident Indian nationals for remittances to personsresident outside India towards their maintenance expenses abroad

Documentation:

Form A2 duly filled in.

1. Full name, nationality and address of the remitter

2. Details of the beneficiary

(a) Name(b) Nationality(c) Address

3. Relationship of the applicant with the beneficiary

4. Amount of remittance (stating currency)

5. Reasons for remittance

6. How the beneficiary has been maintaining abroad in the past

7. Any other relevant information

I hereby declare that the above particulars are true and correct. I declare that under no circumstances my familyas a unit would remit more than US$ 5,000 to.......................................during the calendar year ..........(name of the beneficiary)

I also declare that I have not applied to any other authorised dealer in this regard.................................................

(Signature of Applicant)Place: ...................Date: ...................


30/06/2002 153

SPM 1


Statement showing passage and freight collections and disbursements made byforeign airline companies during the month of .....................

Instructions:

1. The statement should be completed in duplicate and forwarded to Reserve Bank through the bank with whomthe foreign airline company maintains account in India, before 20th day of the month succeeding the one towhich it relates.

2. The statement should be submitted irrespective of whether remittance of surplus funds, if any, is intended tobe applied for or not.

3. If the remittance of surplus funds is desired to be made, one copy of the statement should be forwarded toReserve Bank by the concerned bank immediately after effecting the remittance along with the original taxclearance/No objection certificate - from the Income-tax authorities. Where no remittance is desired to bemade by the airline's office or its agent in India, a copy of the statement should be forwarded to ReserveBank by the bank together with the airline's confirmation to that effect.

1. Passage fares collected @ No.of Tickets Amountissued US$ Rs.

(a) for Residents(b) for Non-Residents

Total of (1)...2. Freight collected @

(a) On Exports(b) On Imports(c) On Transhipment cargo(d) Excess/unaccompanied

baggage(e) On Imports/Exports

into/from Nepal/Bhutan

(f) Others(Please specify)

Total of (2)...

@ Passage fares and freight collections should include the amounts actually received by the applicantcompany/agents and should not include amounts receivable at a future date.

US$ Rs.


30/06/2002 154

3. Other receipts, if any (Please give details)

4. Total receipts for the month(1) + (2) + (3)

5. Less: (a) Refunds(b) Disbursements

(give main particulars in asupplementary statement)

Total of (5)...

6. Net Surplus (+)/Deficit(-) for the month

7. (a) Add: remittances receivedduring the month from the principal abroad

(b) Add: funds transferred fromother centres in India (state RBIapproval No. and date)

Total .....(c) Less: funds transferred to

other centres (state RBI approvalno. and date)

(d) Net Surplus/deficit(e) Add/deduct net surplus/deficit as

at the close of previous month ..............(f) Less: remittances made during the month(g) Net balance as at the end of ..............

8. Amount of tax paid/payable, if any

9. Amount proposed to be remitted

10. (a) Balance/s in accounts maintainedwith bank/s in India as on ...........

(b) Cash on hand, if anyTotal .....

We hereby declare that the statements made above are true and correct to the best of our knowledge and belief.

We further declare that -

(i) the freight and passage fare collections have been made by us in conformity with the Guidelinesissued by the Reserve Bank from time to time;

(ii) no funds representing proceeds of tickets sold in Nepal to persons residing in that country fordestinations beyond India have been received by us in India for making local disbursements;

(iii) apart from the collections/receipts mentioned against items 1, 2, and 3 of this statement, no otherincome has been derived in India by or on account of M/s........................... (name and place ofoffice of the concerned Airline company) during the said month;

(iv) this statement does not include any income which has been derived in contravention of Sections 28,29 and 31 of the Foreign Exchange Regulation Act, 1973.

We also declare and undertake that


30/06/2002 155

(v) all relevant records in support of the collections/disbursements reported in this statement are held byus and will be made available for inspection by Reserve Bank as and when demanded;

(vi) Discrepant amounts noticed during the scrutiny of the statement/documents or the amountremitted in excess of the entitlement will be brought to India immediately by inward remittance inconvertible foreign currency in an approved manner.

Place:Stamp (Signature of the Chief Executive of

Date : the Airline Company in India)Name:Designation:


30/06/2002 156


We certify that the amount/s of has/have been remitted byus to in terms of the authority delegated

(name and country of the beneficiary to be stated)to us. The relative form A2 has been/will be sent to Reserve Bank along with the R Returnfor the period ended . The Income-tax clearance/No Objection Certificatein original is enclosed.

Place:Stamp (Signature of Authorised official)

Date : Name:Designation:Name & Address of AuthorisedDealer Uniform Code No.


30/06/2002 157

SPM 2(Ref: C-1)


Statement showing passage and freight collections and disbursements made by foreign shippingcompanies or agents operating in India

Instructions:

1. The statement should be completed in duplicate and forwarded to Reserve Bank through the bank withwhom foreign shipping company maintains NR collection and disbursement accounts, within 35 days fromthe date of sailing of the vessel.

2. The statement should be submitted irrespective of whether remittance of surplus funds, if any, is intendedto be applied for or not.

3. If the remittance of surplus funds is desired to be made, one copy of the statement should be forwarded toReserve Bank by the concerned bank immediately after effecting the remittance alongwith the originalIncome-tax clearance/No objection certificate - from the Income-tax authorities. Where no remittance isdesired to be made by the agent in India, a copy of the statement should be forwarded to Reserve Bank bythe bank together with the principal's confirmation to that effect.

Documentation:

4. Copy of Agency Agreement (if not already filed with Reserve Bank).5. A certified copy of the voyage Account rendered to principals.6. Freight manifests in support of freight collections.7. Documentary evidence in support of other receipts.8. Documentary evidence regarding provision/payment of income-tax, i.e. auditor's certificate ,receipted

income-tax challans, original assessment orders, etc. with photocopies thereof.9. Copy of resolution/instructions from the conference in respect of collection, if any, of Bunker Adjustment

Factors (BAF)/Currency Adjustment Factor (CAF).10. Export Tally Sheet certified by the surveyors in respect of export cargo.11. Relative Bills of Lading in respect of import cargo on 'Charges Collect Basis'.

1. Name & Address of the foreign shipping principal2. Particulars of Vessel/Voyage

(i) Name of Vessel(ii) Port of call(iii) Period of Voyage


30/06/2002 158

3. Passage fares collecte @ No.of Amounttickets U.S. $ Rs.issued (rounded off to

the nearest rupee)(a) For Residents(b) For Non-Residents

Total of (3)4. Freight collections@

(a) On exports(b) On imports(c) On Transhipment Cargo(d) On Imports/Exports into/from Nepal/Bhutan(e) Others (Please specify)

Total of (4)U.S. $ Rs.

5. Other receipts, if any(Please give details)

6. Total receipts for the month (3) + (4) + (5)

7. Less: (a) Refunds(b) Disbursements (give main particulars in a

supplementary statement)Total of (7)

8. Net surplus (+)/Deficit (-)9. (a) Add: remittances received during the month from

the principal abroad

(b) Add: funds transferred from other centres inIndia(state (enclose a copy of principal'sauthorisation)

Total ….(c) Net surplus/deficit

(d) Add/deduct: net surplus/ deficit as at the close ofprevious voyage

@ Passage fares and freight collections should include the amounts actually received by the applicantcompany/agents and should not include amounts receivable at a future date.


30/06/2002 159

(e) Less: Funds transferred toM/s. …………………………… at

(Name of the agent)…………… (same principal)(centre)(enclose copy of principal's authorisation)

(f) Balance as at ………………..(date of remittance)

10. Amount of tax paid/payable11. Net surplus available for remittance12. (a) Balance in account No…….. maintained

with bank/s in India as on………………

Name/s of bank/s

(b) Cash on hand, if anyTotal….

We hereby declare that the statements made above are true and correct to the best of our knowledge andbelief.

We further declare that -

(i) the freight and passage fare collections have been made by us in conformity with the Guidelines issued bythe Reserve Bank from time to time.

(ii) no funds representing proceeds of tickets sold in Nepal to persons residing in that country for destinationsbeyond India have been received by us in India for making local disbursements.

(iii) apart from the collections/receipts mentioned against items 3, 4 and 5 of this statement, no other income hasbeen derived in India by or on account of M/s…………………………… (name and place of office of theconcerned shipping company) during the said period.

(iv) this statement does not include any income which has been derived in contravention of Section 28, 29 and 31of the Foreign Exchange Regulation Act, 1973.

(v) the declarations obtained from importers/exporters in support of the freight amount collected in rupees andall relevant records in support of the collections/disbursements reported in this statement are held by us andwill be made available for inspection by Reserve Bank as and when demanded.

Place:………………..Date :……………….. Stamp Signature of authorised official

Name:…………………………………Designation:…………………………..


30/06/2002 160


We certify that the amount/s mentioned in Column 9(f) and 11 abovehas/have been remitted by us to ..............…………………….......... in terms of authority

(name and country of the beneficiary) delegated to us. The relative form A2 has been/will be sent to Reserve Bank along with R Return for the periodended…………… The No Objection/Tax Clearance Certificate from Income Tax Authorities in original andrelative documents are enclosed.

Signature of authorised officialPlace:……………….. Name …………………...Date :……………….. Stamp Designation …………………...

Name & Address of …………………...Authorised Dealer …………………...


30/06/2002 161

SRM(Ref: C-1)


Register for recording receipt of SPM 2 statements and remittance of passage fare/freight collectionsby foreign shipping companies

Name of foreign Airline/Shipping Address (or Name and address ofCompany Agents) in India

Statement Date of Collections during the month Disburse- Balance Transfer toin respect of receipts ments

Freight Freight Other Total Surplus Deficit Name Centre AmountName of Voyage on on receipts of the

vessel No. export imports * agent(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13)

Rs. Rs. Rs. Rs. Rs.

US $ US $ US $ US $ US $

Ad hoc remittance Balance to be Ineligible Inward remittances received Balance in the Initials ofremitted amount account authorised

Amount Date Amount Date Amount No. and date of officerbank certificates

(14) (15) (16) (17) (18) (19) (20) (21) (22)

Rs. Rs.

US $ US $

* Including transfer from other agent, if any.

TCK

[Ref: H-4](FEMA-GOI Notification G.S.R(381 E) Schedule III, Item 14

Master Cir. EC.CO.PCD.No.17/15.02.76/2002-02 dated 13.08.2001 Schedule III, Item 14)

Certificate for Payment of Technical know-how feeunder Foreign Technical collaboration


30/06/2002 162

This certificate has reference to the foreign technical collaboration between M/s.__________________________________________________________________ (hereinafterreferred to as "Indian company" and M/s. _________________________________________________________ (hereinafter referred to as "oversees collaborator" for ______________________________________________________________________________________________________________________________________________________________________________

(specify purpose)

2. The above collaboration has been approved by the Reserve Bank of India/Government ofIndia, Ministry of Industry, vide its letter No. ___________________ dated ________________and subsequent amendment(s) vide letter(s) No. (s) ____________________________________dated __________________ setting out that a lump sum technical know-how fee of ______________________________ (amount) net of taxes/subject to taxes is payable to the overseascollaborator in ______________________________ (number) instalments (each being of ________________________________________) on fulfilment of the condition governing paymentof each such instalment.

3. The above collaboration bears Registration No. _________________________ accordedby RBI, FITT Section, Bombay/Reserve Bank of India, __________________ vide its letternumber _______________________________________ dated ________________________.

4. A sum of __________________________ towards payment of instalment/s number(s)_____________________ has already been remitted on __________________ paid subject tofulfilment of obligation thereunder by the overseas collaborator.

5. A payment of __________________ net of tax/subject to taxtowards________________________________ instalment has now become due to the overseascollaborator on their having completely fulfilled the obligation cast on them for receiving thisinstalment, under the collaboration agreement dated ___________and as approved by theReserve Bank of India/Government vide its letter dated___________________ cited inparagraph 2 above.

6. We have verified the books of accounts, the collaboration agreement, Government's letterof approval, RBI's letter dated _________________________, technical documents and otherrelevant paper/documents etc. and having fully satisfied ourselves, hereby certify that :

(i) the statement made above are true and correct to the best of our knowledge andbelief;

(ii) The Reserve Bank's/Government's letter of approval and subsequent amendment, ifany, form part of the collaboration agreement, dated___________;

(iii) the collaboration agreement in question has been concluded within the validityperiod of the Reserve Bank's/Government's letter of approval;

(iv) the proposed payment does not in any way involve payment of any interest ondelayed payment and/or any other payment which is not specifically permitted under


30/06/2002 163

RBI/Government's letter of approval dated _______________;

(v) the Indian company has paid income-tax at the rate specified by the Government anddeposited with _______________________________________________________

(Name of bank and branch)on __________________.

OR

a 'No Objection Certificate'/tax clearance certificate issuedby____________________________________ vide No. ____________________dated________________ is enclosed, in original;

(vi) the Indian company has paid cess under R & D Cess Act, 1986, on the amount oftechnical know-how fee in question;

(vii) the Indian company has submitted to Reserve Bank of India,_______________________the Return in form TCD for the year ended 31stDecember________________;

(viii) a payment of ______________________ has fallen due to the overseas collaboratorafter adjustment of income-tax as follows :

a) Gross amount of payableinstalment of fee

b) Less amount reduced towardsincome-tax if the payment is"subject to tax"

Balance payable

Place :Chartered Accountant/Chartered Engineer

(Signature of the authorised signatory)SEAL Name: . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Address: . . . . . . . . . . . . . . . . . . . . . . . . . .Date : Registration No. . . . . . . . . . . . . . . . . . . . .

Notes: (i) Delete under authentication whatever is not applicable but no item/clause shouldbe omitted from this format of the Certificate.

(ii) Additional information, if any, may be supplied on separate sheet under properauthentication.


30/06/2002 164

TCR[Ref: H-4]

(FEMA-GOI Notification G.S.R(381 E) Schedule III, Item 14Master Cir. EC.CO.PCD.No.17/15.02.76/2002-02 dated 13.08.2001 Schedule III, Item 14)

Certificate for payment of royaltyunder foreign technical collaboration

1. This certificate has reference to the foreign technical collaboration between M/s.____________________(hereinafter referred to as "Indian company") and M/s.____________________ (hereinafter referred to as"overseas collaborator") for _________________________________.

(specify purpose)

2. The above collaboration has been approved by the Reserve Bank of India/Government of India, Ministryof Industry, vide its letter No. ______________________dated ____________________ and subsequentamendment(s) vide letter(s) No. (s) __________________________ dated ___________ setting out that a royaltyof _________ and ___________net of taxes/subject to taxes is payable to the overseas collaborator on domesticsales

(rate) (rate)and actual export proceeds on fulfilment of the condition/s governing each such payment.

3. The above collaboration bears Registration No.________________________ accorded by RBI, FITTSection, Mumbai /RBI ____________________________ vide its letter number __________________ dated______________.

4. A sum of ________________ towards payment of technical know-how fees has already been remitted on________________ and balance amount of ____________________________remaining to be paid is due on________________/ no further payment remains to be made on this account.

5. The collaboration agreement is dated _____________________ and the commercial production based onthe technology acquired under the above collaboration has commenced on _________________. Consequently,the period of agreement is from _____________ to _______________ and the period for payment of royalty isdetermined as from _____________________ to _________________ in accordance with the terms andconditions set out for the purpose by RBI/Government vide its letter dated _________________.

6. The following payment(s) has (have) already been made under the above collaboration :

Sales Sales on which royalty Amount of royalty on % ofduring remitted (7)the ------------------------------------------- --------------------------------------------------- toperiod Domestic Export Total Domestic Exports Total (4)

sales sales (i.e. (i.e.Column-2) Column-3)

---------- -------------- ---------- ------------ ----------------- ------------------- ---------- -----------------(1) (2) (3) (4) (5) (6) (7) (8)

Total A:_____________________________ Total B:___________________________% of (B) to (A) :_________________________________________________________% of [(B)+ know-how] to (A) : __________________________________________ fee


30/06/2002 165

7. A gross payment of ______________ net of tax/subject to tax, has now become due to the overseascollaborator towards payment of royalty in respect of orders executed by the Indian Company during the period____________ to _______________ under the above collaboration. The amount has been calculated strictly inaccordance with the terms and conditions stipulated in this regard by the RBI/Government, vide its letter dated_______________ cited above; details whereof are furnished in the Annexure.

8. We have perused the books of accounts, the collaboration agreement, Government's letter of approval,RBI's letter dated ____________ and other relevant records and having fully satisfied ourselves certify as under :

(i) the statements made above are true and correct to the best of our knowledge and belief;

(ii) the Reserve Bank's/Government's letter of approval and subsequent amendment, if any, form part of thecollaboration agreement dated ___________________;

(iii) the amount of royalty has been calculated on products manufactured after the conclusion of thecollaboration agreement and the quantum of said production is within the capacity approved by theGovernment of India;

(iv) the Indian company has executed legal undertaking/furnished bank guarantee and has fulfilled the exportobligation as instructed by DGFT and Ministry of Commerce;

(v) M/s.____________________________________________________________ who are sub-contractorshave actually manufactured the components detailed below according to and using the designs anddrawings supplied by the overseas collaborator to the Indian company under the above collaboration;

(vi) the proposed payment does not in any way involve payment of any interest on delayed payment and/orany other payment which is not specifically permitted under RBI/Government's letter of approval dated_________________;

(vi) the Indian company has paid income-tax at the rate specified by the Government and deposited with__________________________________________ on ____________. (name of bank and branch)

ORa 'No Objection Certificate' /tax clearance certificate issued by ____________________________ videNo. ____________________________ dated ____________ is enclosed, in original;

(viii) the Indian company has paid cess under R & D Cess Act, 1986, on the amount of royalty in question;

(ix) the Indian company has submitted to Reserve Bank of India, ________, the Return in Form TCD for theyear ended 31st December __________.

Place:Date: Chartered Accountant

SEAL(Signature of the authorised signatory)Name:….……………………………..Address: ….………………………….Registration No. ….………………….

Notes : (i) Delete under authentication whatever is not applicable but no item/clause should be omitted from thisformat of the Certificate.

(ii) Additional information, if any, may be supplied on separate sheet under proper authentication.


30/06/2002 166


30/06/2002 167

ANNEXURE

Domestic Export Totalsales sales

I. Actual production and sales

II. Net ex-factory sales price of products eligible for royalty out of the above (net-ex-factory value of sales is net of excise duty Rs.___________________) packing forwarding Rs._______________) Sales Tax (Rs._______________________) discount (Rs.________________________) etc.

III. (a) Landed cost of imported components including ocean freight, insurance, customs duties, etc.

(b) Standard bought-out components used in the manufacture of the product;

Total (a) + (b)

IV. Net sales on which royalty is payable (II minus III)

V. Royalty @ ________% and __________%on above.

VI. Tax deductible at source @ _________%.

VII. Net remittable amount.


30/06/2002 168

TCD

[Ref: H-4](FEMA-GOI Notification G.S.R(381 E) Schedule III, Item 14

Master Cir. EC.CO.PCD.No.17/15.02.76/2002-02 dated 13.08.2001 Schedule III, Item 14)

Foreign Collaboration Agreement -Return for the year ended 31st December......

INSTRUCTIONS:1. This Return should be submitted (in duplicate) duly filled in and signed by an authorised signatory of the

firm / company. No column should be left blank. Instead, write "Not applicable" wherever necessary.

2. It should reach the concerned office of the Reserve Bank of India in the first fortnight of January eachyear.

3. It shall contain information on calendar year-wise basis beginning from the date of first remittance.

4. Please attach separate sheet, wherever necessary.

5. Wherever technical know-how has not been received in full, necessary explanation may be furnished byway of a separate note.

1. Name of the company

2. Registration No.

3. Details of foreign investment received :

Date of FIRC Currency Amount Equivalent Indian Rupees

DD MM YYYY

4. Date of AgreementDD MM YYYY

5. Date of commencement of productionDD MM YYYY

FROM6. Total period determined for

payment of royalty DD MM YYYY DD MM YYYY

7. Details of remittances made during the calendar year under report.(Please enclose copies of relevant certificates from Chartered Accountants)

Purpose Date (s) of Equivalent Indian Remittance inremittance Rupees

(net of taxes)(i) Know-

how fee DD MM YYYY


30/06/2002 169

(ii) Royalty

(iii) Dividend& Profit

(iii) Others(Pleasespecify

Total

8. Details of total royalty remitted till 31st December of the year of thisReturn.

Sales Rate of Royalty Amount (Rupees)Domestic

Exports

Total'Y' 'X'

Percentage of 'X' to 'Y'

9. (a) Amount of lumpsumknow-how fee paid so far

(b) Amount of Royaltypaid so far

(c) Total of (a) + (b)

(d) Sales value on whichroyalty has been paid

(e) Percentage of (c) to (d)

10A. Details of foreign technicians deputed to India under the collaboration during the calendar year underreport.

a) Number of technicians :

b) Number of man days involved :

c) Fees remitted (Indian rupees equivalent) : Rs.

10B. Details of Indian personnel deputed abroad for training during the calendar year under report.

a) Number of Indian trainees :

b) Number of mandays :


30/06/2002 170

c) Training fees, if any : Rs.

d) Other costs (living etc.) : Rs.

11. Utilisation of foreign exchange from the beginning of the project upto the 31st December ofthe year of this Return, towards

Indian Rupees equivalent(i) Imports of machinery, raw material, etc.

(ii) Know-how fee

(iii) Royalty

(iv) Dividends & profits

(v) Others (Please specify)

Total

12. Inflow of foreign exchange during the same period as for Item no.11 above:

Indian Rupees equivalent(i) F.O.B. value of exports realised

(ii) Foreign exchange savings (c.i.f.)as a result of import substitution

Total

13. Between item nos. 11 and 12 above, which is more? Please (ü) the appropriate box.

Outflow InflowWe hereby certify that -

(i) the particulars furnished above are true and correct to the best of our knowledge;

(ii) the remittances have been made strictly in accordance with the terms and conditions of approvalgranted by RBI/Government of India (delete whichever is not applicable) for the collaboration inquestion

(iii) the technical know-how (including drawings and designs, relevant documents etc.) have beenreceived in full as contemplated under the collaboration agreement.

(iv) prior approval of Reserve Bank of India, __________________, was obtained for all remittancesother than those of technical know-how fee and royalty, which have been made by us and areincluded in this Return.

…………………………………………………..(Signature of the authorised signatory with seal)

Place : _________________ Name : _________________________________Date : _________________ Designation : ____________________________No. of enclosures : Address : _______________________________

________________________________


30/06/2002 171

CountersignedPlace : _________________ …………………………………………………..Date : _________________

Stamp(Signature of Authorised Official)Name : _________________________________Designation : ____________________________Address : _______________________________

________________________________


30/06/2002 172

TRS(Ref: A-4)

(FEMA-GOI-Notification G.S.R. 381(E) Schedule III, Item 10Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 10.)

Application for release of exchange for studies abroad

Documentation :

1. Certified copy of relevant pages of applicant’s passport.

2. Letter of admission in original (to be returned to the applicant) with a certified copy thereof (tobe retained by the A.D.) received from the foreign educational institution or a firm ofChartered Accountants in the U.K. indicating the date of commencement of the course and theduration of the course.

1. Student’s name

2. Address

3. Details of current passport(a) No. & date of issue(b) Place of issue(c) By whom issued

4. Details of the proposed course of study(a) Name of the overseas educational institution etc.(b) Particulars of the course (including duration)(c) Date of commencement of course

5. Foreign Exchange required for the year(a) Total amount required(b) Exchange already availed of for the course(c) Amount required now : i) Amount in cash ii) Amount in T/Cs iii) Amount in DD

I declare that I have read the instructions of my/*student’s eligibility as given overleaf and undertakethat under no circumstances I/*student will draw exchange exceeding the eligibility.

I certify that the statements made above are true to the best of my knowledge and belief.


30/06/2002 173

____________________________ (Signature of the student/*applicant)

Name & address of the________________________ applicant ________________________

Place :Date :


Entitlement of exchange for studies abroad

a) U.S.$ 30,000 per annum towards tuition fees, maintenance expenses, books, etc.

b) Exchange in excess of U.S.$ 30,000 per annum would be available at actuals to the extent ofthe requirement of exchange indicated by overseas educational institution.

c) The amount of scholarship, if any, received by student will be adjusted against the exchangeadmissible to the student only to the extent desired by the applicant.

d) Student who is in receipt of full sponsorship from a close relative will be eligible for fullexchange if he desires not to avail of the relative’s hospitality.

e) In case letter of admission does not indicate exchange requirement, exchange may be releasedby authorised dealers upto U.S.$ 15,000 subject to adjustment while releasing further exchange.

f) Exchange will be released for a period of one year at a time. Further exchange will be availableon production of documentary evidence to show that student is continuing studies abroad forthe same course or any other at the same or any other educational institution.

g) Exchange will be available as under :-

Currency notes - U.S.$ 500 *

Travellers’ cheques/Bank draft/TT infavour of the student/educational - For balance amountinstitution as desired by the applicant

* In the case of students proceeding to Russia and other Republics of CIScountries entire exchange admissible can be availed of in the form of currencynotes.


30/06/2002 174


30/06/2002 175

TRM 1

(Ref: A-5 & A-6)(FEMA-GOI-Notification G.S.R. 381(E) Schedule III, Item 9

Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 9.)

Application for release of exchange for medical treatment abroadDocumentation

1. An estimate of expenses from the overseas doctor/hospital.2. Passport of the patient and attendant/s.

1. Details of the patient

(a) Name (a)(b) Address (b)(c) Nationality (c)(d) Passport No. & date (d)(e) Passport issued at (e)

2. Nature of the ailment

3. Expected duration of treatment

(i) In hospital (i)(ii) Pre/Post hospitalisation (ii)

4. Exchange requirement for the patient

(a) For medical treatment includinghospitalisation

(a)

(b) For pre/post hospitalisation stay(Living and incidental expenses)

(b)

5. Exchange requirements for attendant/s(if recommended by the doctor)

(a) Name/s & address/es of the attendant/s (a)(b) Amount of exchange required

and number of days(b)

6. Any other relevant information


30/06/2002 176

DECLARATION

I hereby declare that the statements made above are true to the best of my knowledge and belief.

I also declare that I/the patient have/has not submitted and will not submit any application for the same purpose toany other branch/office of any authorised dealer in foreign exchange in India.

I further undertake to submit within a period of 30 days of my/the patient’s return to India, a statement of accountof the expenses incurred abroad, duly supported by bills, where necessary, together with a certificate from theattending physician/surgeon that I/the patient have/has undergone the treatment.

......................................................(Signature of patient/applicant)

Place: ..........................Date: ..........................

_____________________________________________________________________________Certificate from the Treating Physician/Surgeon

1. Brief description of the ailment

2. Specific reasons for which a visit to aspecialist/institution in a foreign country isnecessary

3. Estimated period of treatment abroad

I certify that I have satisfied myself that the ailment from which the patient is suffering is of such a nature thattreatment abroad is necessary.

Signature____________________________________Name of the applicant _________________________Registration No.______________________________Address: ____________________________________

Place:........................Date:........................


30/06/2002 177

TRM2(Ref: A-5)

(FEMA-GOI-Notification G.S.R. 381(E) Schedule III, Item 9Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001 Schedule III, Item 9.)

Form of certificate to be issued by a medical practitionernominated by Indian mission etc. abroad

MEDICAL CERTIFICATE

I hereby certify that I have personally examined ______________________________________ (Name - Block letters)

___________________________________________________________________________________________________________________________________________________________

(address)and he/she is suffering from ___________________________________________________________________________________________________________________________________

(ailment).I recommend that he/she undergoes immediate medical treatment for which he/she will be required to stay forabout ______ days in ___________________________________________

(Name of the country)

The cost of the medical treatment will be approximately________________________________

_____________________________________Place: ................ (Signature of Medical practitioner)Date: ................. Name ____________________________

Designation ____________________________Registration No.____________________________Address ____________________________

____________________________


30/06/2002 178

INCOME TAX DECLARATION FORMINCOME TAX UNDERTAKING

To________________________________________

(Designation of the Assessing Officer)________________________________________

I/We _______________________________________ propose to make a remittance of ________

(Name, address and Permanent Account Number) (Amount)

being ________________________________________________________________________

(Nature of payment)

to ___________________________________________________________________________

(name and complete address of the person to whom the remittance has been made)

after deducting a sum of Rs.________ being the tax @_____________, which is theappropriate rate of tax deductible at source on the said amount of remittance.

2. A certificate from the Accountant as defined in Explanation below Section 288 of the Income-tax Act certifying the nature and amount of income, amount of tax payable and the amount actually paid,is also annexed.

3. In case it is found that the tax actually payable on the amount of remittance made has eithernot been paid or has not been paid in full I/we undertake to pay the said amount of tax alongwith interest founddue in accordance with the provision of the Income-tax Act.

4. I/We will also be subject to the provisions of penalty and prosecution for the said defaultas per the Income-tax Act.

5. I/We also undertake to submit the requisite documents etc. for enabling the Income-tax

Department to determine the nature and amount of income and tax, interest, penalty etc. payable hereon.

__________________________

(Name & Signature)

Date:

Place:


30/06/2002 179

(The undertaking shall be signed by the person authorised to sign the return of income of theperson making the payment).

--------------------------------------------------------------------------------


30/06/2002 180

CERTIFICATE

I/We have examined the books of accounts of M/s._____________________________________(Name, address and Permanent Account Number

of person making the remittance)

for ascertaining the nature of the remittance, of____________________________________________(Amount of remittance)

to _____________________________________________________________________

(Name and complete address of the person to whom the remittance is being made)

and the rate at which the tax is deductible at source thereon and hereby certify that

a sum of Rs at the.______ has been deducted as tax appropriate rate and has been paid to the

credit of the Government.________________

Accountant

Place:

Date:


30/06/2002 181

Form 1

DECLARATION- cum-UNDERTAKING[Under Section 10(5), Chapter III of The Foreign Exchange Management Act, 1999]

I/We hereby declare that the transaction the details of which are specifically mentioned in theSchedule hereunder does not involve, and is not designed for the purpose of any contraventionor evasion of the provisions of the aforesaid Act or of any rule, regulation, notification,direction or order made thereunder.

I/We also hereby agree and undertake to give such information /documents as will reasonablysatisfy you about this transaction in terms of the above declaration.

I/We also understand that if I/We refuse to comply with any such requirement or make onlyunsatisfactory compliance therewith, the Bank shall refuse in writing to undertake thetransaction and shall if it has reason to believe that any contravention /evasion is contemplatedby me/us report the matter to Reserve Bank Of India.

* I/We further declare that the undersigned has/have the authority to give this declaration andundertaking on behalf of the firm/ company.

_______________________Signature of the Applicant for Foreign Exchange

Place :Date :

*Applicable when the declaration/undertaking is signed on behalf of the firm/company.______________________________________________________________________

SCHEDULEAll foreign exchange transactions as may be entrusted by us to the Bank from time to time.For Office UseNOTE: (Details of information/documentary evidence to be verified/recorded separately foreach transaction)


30/06/2002 182

Form 2

DECLARATION- cum-UNDERTAKING

[Under Section 10(5), Chapter III of The Foreign Exchange Management Act, 1999]

I/We hereby declare that the transaction the details of which are specifically mentioned in theSchedule hereunder does not involve, and is not designed for the purpose of any contraventionor evasion of the provisions of the aforesaid Act or of any rule, regulation, notification,direction or order made thereunder.

I/We also hereby agree and undertake to give such information /documents as will reasonablysatisfy you about this transaction in terms of the above declaration.

I/We also understand that if I/We refuse to comply with any such requirement or make onlyunsatisfactory compliance therewith, the Bank shall refuse in writing to undertake thetransaction and shall if it has reason to believe that any contravention /evasion is contemplatedby me/us report the matter to Reserve Bank Of India.

* I/We further declare that the undersigned has/have the authority to give this declaration andundertaking on behalf of the firm/ company.

_______________________Signature of the Applicant for Foreign Exchange

Place :Date :

*Applicable when the declaration/undertaking is signed on behalf of the firm/company.______________________________________________________________________


30/06/2002 183

SCHEDULE

Nature / Purpose of Foreign Exchange transaction ______________________________ ______________________________ ______________________________Amount of Foreign Exchange ______________________________Beneficiary ______________________________________________________________________________________________________

For Office use : Details of documentary evidence verified12345


30/06/2002 184

(Remittance Application Form)

To Date :

The Manager,BNP Paribas,……………… Branch…………….

Dear Sir,

Subject : Request for foreign outward remittance (Demand Draft / Swift transfer)

We request you to arrange a foreign outward remittance as under :

Beneficiary Name : …………………………………………………………………….

Currency : ………… Amount : ……………………………………………...

Purpose of :…………………………………………………………………….remittance ……………………………………………………………………..________________________________________________________________________

(Additional details in case of Swift transfer)Beneficiary Account No:…………………………………………………………………..Beneficiary Bank’s :……………………………………………………………………..name and address………………………………………………………………………(account no. if available)…………………………………………………………………..(swift code if available) ………..…………………………………………………………

Beneficiary Bank’s :…………………………………………………………………….Correspondents ……………………………………………………………………Name and address ……………………………………………………………………(swift code if available) …………………………………………………………………...

Additional details (ifany)::……………………………………….………………………………………………………………………

Correspondent Bank Charges: (Ours / Beneficiary)Please debit our account (EEFC / Designated / Rupee Account) No ……………… …………………………….towards the above.

Yours faithfully,


30/06/2002 185

Clients Declaration

(Ref A-1, B-1 and B-2)

(FEMA-GOI-Notification G.S.R 381(E) Schedule III- Item 8A.P.(DIR Series) Cir. No. 29 dated 31.03.2001Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001)

We hereby declare that the amount of remittance does not exceed USD 25000/- per person/pervisit. We also declare that we have not approached/ will not approach any other authoriseddealer for this remittance.

_________________________

Place : Signature of authorised official

Date : Name :

Designation :


30/06/2002 186

Clients Declaration

(Ref B-3)

(FEMA-GOI-Notification G.S.R 381(E) Schedule III- Item 8A.P.(DIR Series) Cir. No.29 dated 31.03.2001Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001Schedule III, Item 8)

We hereby declare that the amount of remittance of hotel accommodation charges are incurredon account of training. We further confirm that the amount of remittance does not exceedUSD 25000/- per person inclusive of training cost.

_________________________


Date : Name :

Designation :


30/06/2002 187

Chartered Accountant Certificate

(Ref : C-4)

(Paragraph 7 v. of Annexure I A.D.(M.A.Series) Cir. No.11 dated 16.05.2000.)

We have verified the books of account of M/s, ………. (name and address)…………….…………….. and hereby certify that the amount of remittance applied for has been verifiedwith reference to copy of prepaid Master Airwaybill/ Master Bill of Lading together withoriginal relative House Airway Bill/ Master Bill of Lading as also cargo manifest and invoicesfrom the overseas consolidators and had been found correct.

Place : StampDate : …………………………..

Signature of Chartered Accountant

Name …………………………

Full Address …………………….


30/06/2002 188


(Ref : C-5)

(Paragraph 7 v. of Annexure I A.D.(M.A.Series) Cir. No.11 dated 16.05.2000.)

We have verified the books of account of M/s, ………. (name and address)…………….…………….. and hereby certify that the amount of remittance applied for has been verifiedwith reference to Break-Bulk agents debit notes and invoices, copy of Master Airwaybill/Master Bill of Lading together with original relative House Airway Bill/ House Bill of Ladingas and had been found correct.



Name …………………………



30/06/2002 189


(Ref : D.1)

(Item 13 of Schedule III, and A.P.(DIR Series) Cir. No. 44 dated 14.05.2002)

We have verified the books of account of M/s, ………. (name and address)…………….…………….. collecting agent of M/s. …………. Name and address) …………… andhereby certify that :1. Applicant exporter satisfies the criteria of having export earning of more than Rs. 10 lakhs

during each of the preceding two years. and2. The advertisement for which foreign exchange is being remitted has been broadcaster by

the foreign television company in foreign countries and not in India alone.

Place: StampDate: …


Name…Full Address…Registration No.…


30/06/2002 190

Clients Declaration

(Ref E-3)

(Par A9 Part II of Master Cirri. No. EC.CO.PCD No.17/15.02.76/2001-02 dated13.08.02)

We hereby declare that remittance is being made out of the foreign exchange purchased by theconcerned traveler from an authorized person (including exchange drawn for private travelabroad) in accordance with the rules, regulations and Directions in force.

_________________________

Place: Signature of authorized official

Date: Name:

Designation:


30/06/2002 191

Clients Declaration

(Ref F-1)

(Paragraph 6 of Annexure 1 to A.D. (M.A.Series) Cir. No.11 dated 16.05.2000)

We hereby certify that the Maintenance/ Annual Service charges for Imported Machinery /Software etc. is not covered under any warranty/guarantee obtained from the foreign company.

_________________________


Date : Name :

Designation :


30/06/2002 192

Clients Declaration

(Ref F-2, F-7, F-8 )(FEMA-GOI-Notification G.S.R 381(E) Schedule III- Item 15A.P.(DIR Series) Cir. No.29 dated 31.03.2001Master Cir. EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001Schedule III, Item 15)

We hereby confirm that the remittance is not exceeded USD 100,000/- per project.

_________________________


Date : Name :

Designation :


30/06/2002 193

Clients Declaration

(Ref G –3, G-4 )


We hereby confirm that the remittance is not exceeded USD 5000/- during the year. We alsodeclare that we have not approached or will not approach any othet bank for this remittance.

_________________________


Date : Name :

Designation :


30/06/2002 194

Clients Declaration

(Ref G –5 )


We hereby confirm that the employee concerned is in regular employment and the saidremittance is not exceeded his/her net salary. We also declare that we have not approached orwill not approach any othet bank for this remittance.

_________________________


Date : Name :

Designation :


30/06/2002 195

Clients Declaration

(Ref G –6)

(Notification No. FEMA 34/2001-RB dated 22.01.2001 – Regulation 8A.P.(DIR Series) Cir. No. 28 dated 30.03.2001

We hereby confirm that the employee concerned is in regular employment and the saidremittance is within the 75% of his/her net salary. We also declare that we have notapproached or will not approach any othet bank for this remittance.

_________________________


Date : Name :

Designation :


30/06/2002 196

Certificate to be furnished by Authorised Dealers

(Ref : H.2)

(Paragraph 6 of Annexure 1, A.D.(M.A.Series) Cir. No. 11 dated 16.05.2000)

We hereby confirm that the proceeds of income-tax refund order of M/s ……………. has been received by us.The details of which are as under :


Signature of Authorised Official

Name and Designation ……………………Name and Address of AuthorisedDealer …………………………………….


30/06/2002 197

Clients Declaration

(Ref H –8)

(Paragraph 6 of Annexure 1, A.D.(M.A.Series) Cir. No. 11 dated 16.05.2000)

We hereby certify that the remittance represents visa fees/ other consular collections made byus and the amount so far remitted during the year is Rs…….. The remittance during theprevious We also declare that we have not approached or will not approach any othet bank forthis remittance.

_________________________


Date : Name :

Designation :


30/06/2002 198


(Ref : H-11)

(Regulation No.7 of Notification No. FEMA 22/2000-RB dated 03.05.2000)

We have verified the relevant record of M/s. ………………….. and arrived at the remittableprofit as under :……………………………………. ………………..……………………………………. ………………..……………………………………. ………………..

We hereby certify that the entire remittable profit has been earned by M/s. …………………by undertaking the permitted activities. We also confirm that the profit does not include anyprofit on revaluation of the asset of the branch.



Name …………………………


Registration No. …………………


30/06/2002 199


(Ref : H-12)

(Regulation No.7 of Notification No. FEMA 22/2000-RB dated 03.05.2000)

We have verified the relevant record of M/s. ………………….. and arrived at the remittableprofit as under :……………………………………. ………………..……………………………………. ………………..……………………………………. ………………..

We hereby certify that the entire remittable profit has been earned by M/s. …………………by undertaking the permitted activities.



Name …………………………




30/06/2002 200

Clients Declaration

(Ref H –23)

(Para C 1. (ii) of Memorandum of Instructions on Project Exports and Services(PEM))

We hereby declare that the aggregate exchange facilities already of / to be availed of forexecution of the contract would be within overall ceiling of project related expenses viz. 70percent of the contract value.

_________________________


Date : Name :

Designation :


30/06/2002 201

Clients Declaration

(Ref H –25)

(Para C 13 of A.P.(DIR Series) Cir. No.12 dated 09.09.2000)

We hereby confirm that we are not in the Reserve Bank’s caution list.

_________________________


Date : Name :

Designation :


30/06/2002 202


(Ref : H-27)

(Paragraph 6 of Annexure 1 to A.D.(M.A.Series) Cir. No. 11 dated 16.05.2000)

We have verified the books of account of M/s, ………. (name and address)……………. …………….. collectingagent of M/s. …………. Name and address) …………… and hereby certify that :



Name …………………………




30/06/2002 203


(Ref : H-30)

(Regulation 19 (2) of Notification No. FEMA 19/RB-2000 dated 03.05.2000Notification No. FEMA 40/RB-2000 dated 02.03.2001A.P.(DIR Series) Cir. No. 32 sated 28.04.01Master Cir. No. EC.CO.PCD. No. 53/15.02.76/2001-2002 dated 04.04.2002)

We have verified the constitution of M/s, ………. (name and address)……………. ……………..and confirm that the foreign equity holding of the company is not less than 51 percemt.



Name …………………………




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Request for release pf foreign exchange (BTQ) (A – 3)

(FEMA-GOI-Notification G.S.R. 381 (E) Schedule III, Item 2 Master Circular EC.CO.PCD.No.17/15.02.76/2001-02 dated 13.08.2001

Schedule III, Item 2.)Date :

The Manager,BNP Paribas,………………………………

Dear Sir,

Sub : Request for release of foreign exchange for private visit (BTQ)

This is to inform you that I, Mr./ Ms._______________________________________________ am travelling to________________________________ on holiday. My details are as follows :

Name :Address :Passport No. :Place of visit :Period of stay :Date of Departure :

I undetake to utilise the foreign exchange for the above mentioned purpose.You are requested to debit my a/c No. ……………………………………. and issue the forexin the followingDenominations

Cash (currencies) : (Not to exceeds USD 2000/- or its equivalent)Travellers cheque :Demand Drafts :

I declare that I have not approached / will not approach any other Authorised Dealers for thisremittance.

I further declare that I have not exceeded USD 5000/ or its equivalent in this calendar year.

Relevant Form A2, Passport and Air Ticket is enclosed to enable you to do the needful.


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Thanking you,

Yours faithfully,

(Applicant)