![]() The designated AD Category – I bank will report to the Reserve Bank (the Regional Office concerned for LOs and Central Office for BOs), along with a declaration stating that all the necessary documents submitted by the BO / LO have been scrutinized and found to be in order for closure of Branch Office. Foreign Company- Liaison Offices Branch Office & Project Office. Designated AD Category-I bank may allow remittance of winding up proceeds in respect of offices of banks and insurance companies, after obtaining copies of permission of closure of branch office from the sectorial regulators (like IRDA etc) along with the documents mentioned above. The main types of business entities in India are Sole Proprietorship, Partnership. Project management is the process of leading the work of a team to achieve all project goals within the given constraints.Any other document/s, required by Reserve Bank of India/AD Category-I bank while granting approval. ![]() The designated AD Category – I banks will confirm that the BO / LO had done their respective compliances.A report from the Registrar of Companies (ROC) regarding compliance with the provisions of the Companies Act, 2013.Confirmation from the applicant/parent company that no legal proceedings in any Court in India are pending against the BO.Confirming that no income accruing from sources outside India (including proceeds of exports) has remained un-repatriated to India.Confirming that all liabilities in India including arrears of gratuity and other benefits to employees, etc.Along with a statement of assets and liabilities of the applicant and indicating the manner of disposal of assets and the manner how the remittable amount has been generated.Copy of the Reserve Bank’s approval for establishing the BO/ LO. The practice of project close-out consists of two main activity groups: Administrative Closure The administrative closure process defines activities, interactions, and related roles and responsibilities of the project team members and other stakeholders involved in executing the administrative closure procedure for the projects.
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