Our two step down subsidiaries are executing the above agreement in Dubai to transfer Assets.and Liabilities. Both are sister concerns. Is it legally OK? Vis a vis RBI.
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Assumption & Assignment agreement
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Hello, If the transfer involves foreign exchange or affects foreign investments, you may need to seek prior approval from the RBI under the Foreign Exchange Management Act (FEMA).Ensure that the assets and liabilities are properly valued. This valuation should be justified and documented to avoid potential issues with tax authorities or regulatory bodies. brawl stars online
The transfer must comply with the provisions of the Companies Act, including necessary approvals from the board and possibly from shareholders, depending on the nature and value of the assets and liabilities being transferred.
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