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November 2012

A. P. (DIR Series) Circular No. 35 dated 25th September, 2012

By Gaurang Gandhi, Chartered Accountant
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Establishment of Liaison Offices (LO)/Branch Offices (BO)/Project Offices (PO) in India by Foreign Entities– Reporting requirement.

This circular has prescribed certain additional reporting requirements both for new as well as existing LO /BO/PO. The format for reporting the information is annexed to this circular.

New LO/BO/PO
The new LO/BO/PO will have to submit the information (as per the annexed format) within 5 working days of the LO/BO/PO becoming functional to the DGP of each state in which LO/BO/PO has established its office.

Existing/New LO/BO/PO
They will have to submit a copy of the information (as per the annexed format) with the DGP of each state as well as its Bank on an annual basis along with a copy of the Annual Activity Certificate/Annual report, as the case may be.

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