Fema
This query is : Open
22 March 2019
Hi
My client company based on Hyderabad invoiced his sales to customer with in india in INR, that customer is having financing arrangement with the Denmark foreign bank with the guarantee of our parent company based in denmark. now they want to release funds in USD that our bank is no accepting. is it allowed under FEMA.
My client company based on Hyderabad invoiced his sales to customer with in india in INR, that customer is having financing arrangement with the Denmark foreign bank with the guarantee of our parent company based in denmark. now they want to release funds in USD that our bank is no accepting. is it allowed under FEMA.
CA R SEETHARAMAN
(Expert)
23 March 2019
Yes it's allowed being remittance through banking channel out foreign currency loans.
25 March 2019
But my AD banker is not accepting this transaction...can you please explain me under which code of FEMA is it allowed
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