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What if the Capital Instruments are not issued within the stipulated time period?

By IndianMoney , 7 months ago

If the capital instruments are not issued by the Indian company within 60 days from the date of receipt of the consideration, the amount received has to be refunded to the person concerned by outward remittance, from banking channels or by a credit to his NRE or FCNR (B) accounts, in this case, within 15 days from the date of completion of 60 days.

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