Fema
Querist : Anonymous
The Contract has been cancelled. To avoid RBI/FEMA TECHNICALITIES, He wants the amount to be returned in rupees , in India, to his Indian account.
Can we do it or will it be violation of FEMA rules. Will it amount to money laundering or Unauthorised FC trading.
Pl advice. Thanking you in anticipation
Querist : Anonymous
Thanks for the response. The transaction will not amount to money laundering as kindly suggested by you.
Will the transaction violate FEMA rules, do we need RBI consent.
regards
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