An Indian Subsidary Company with Foreign holding company has received Funds from holding as ADVANCE FOR SERVICES.... this fund is lying with the company for more than 12 months... The company is now getting closed, and the subsidary wants to refund the amount back to holding company... Please let me know the RBI Procedures involved in this.
Dear Chintan,
This come under exports of goods and services. So take note from relevant regulations. and meet with your AD bank because every AD Bank have different approaches about export procedure.
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