Refund to foreign friend

Sir,

Somebody  borrowed Rs.75,00,000/-  (85000 GBP) from foreigner during the year 2006 to 2008 without any agreement or invoice.  It is a interest free money  It was sent to bank account and i have all the transaction details (HSBC Bank).

Now  they want to return that money and  want to know the procedure and documentation/Forms  for remittance.

Is there any auditors certification required.  

Should they collect any lettter from them to refund the money before remittance.

Please advise me.

Regards

 

 

Replies (1)

Contact to your bank for the details and procedure.

 

Thanks & Regards

Piyush Tanwar

CA Finalist and Internal Auditor

Mobile - 9717468521

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