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
CAclubindia
