ROHIT SINGH
asked
What is the concept of a ‘designated Authorised Dealer’? Can there be more than one ‘designated Authorised Dealer’ for the same JV/WOS in case the JV/WOS has more than one Indian promoter?
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veeru
answered
The Indian party is required to route all transactions in respect of a particular overseas JV/WOS only through one branch of an Authorized Dealer. This branch would be the ‘designated Authorised Dealer’ in respect of that JV/WOS and all transactions and communications relating to the investment in that particular JV/WOS are to be reported only through this ‘designated’ branch of an Authorized Dealer. In case the JV/WOS is being set up abroad by two or more Indian promoters, then all Indian promoters collectively called the Indian party, would be required to route all transactions in respect of that JV/WOS only through one ‘designated Authorised Dealer’.
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Archana
answered
Hie Rohit,
- The Indian party is required to route all transactions in respect of a particular overseas JV/WOS only through one branch of an Authorized Dealer.
- This branch would be the ‘designated Authorised Dealer’ in respect of that JV/WOS and all transactions and communications relating to the investment in that particular JV/WOS are to be reported only through this ‘designated’ branch of an Authorized Dealer.
- In case the JV/WOS is being set up abroad by two or more Indian promoters, then all Indian promoters collectively called the Indian party, would be required to route all transactions in respect of that JV/WOS only through one ‘designated Authorised Dealer’.
- In case the Indian Party wants to switch over to another AD, an application by way of a letter may be made to the Reserve Bank after obtaining an NOC from the existing Authorized Dealer.
ARJUN PRATAP SINGH
answered
Dear Friend,
as far as your query is concerned that What is the concept of a ‘designated Authorised Dealer’? Can there be more than one ‘designated Authorised
Dealer’ for the same JV/WOS in case the JV/WOS has more than one Indian promoter?
Let me informed that The Indian party is required to route all transactions in respect of a particular overseas JV/WOS only through one branch of an
Authorized Dealer. This branch would be the ‘designated Authorised Dealer’ in respect of that JV/WOS and all transactions and
communications relating to the investment in that particular JV/WOS are to be reported only through this ‘designated’ branch of an
Authorized Dealer. In case the JV/WOS is being set up abroad by two or more Indian promoters, then all Indian promoters collectively
called the Indian party, would be required to route all transactions in respect of that JV/WOS only through one ‘designated Authorised
Dealer’. In case the Indian Party wants to switch over to another AD, an application by way of a letter may be made to the Reserve
Bank after obtaining an NOC from the existing Authorized Dealer.
Hope answer was helpful to you
Regards,
Arjun Pratap Singh
jitendra etikala
answered
The Indian party is required to route all transactions in respect of a particular overseas JV/WOS only through one branch of an Authorized Dealer. This branch would be the ‘designated Authorised Dealer’ in respect of that JV/WOS and all transactions and communications relating to the investment in that particular JV/WOS are to be reported only through this ‘designated’ branch of an Authorized Dealer. In case the JV/WOS is being set up abroad by two or more Indian promoters, then all Indian promoters collectively called the Indian party, would be required to route all transactions in respect of that JV/WOS only through one ‘designated Authorised Dealer’. In case the Indian Party wants to switch over to another AD, an application by way of a letter may be made to the Reserve Bank after obtaining an NOC from the existing Authorized Dealer.
