Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

Deep sectoral expertise across services and industries.

Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

Personal commitment supported by experience and grit.

We commit early. We pull together internally for greater support. Every effort is sincere, every individual deeply dedicated to their task, their role, to the Firm.

Our undertakings for long-term impact are an organic extension of our purpose.

They are to employ our deep knowledge of the law beyond the business, the transaction, the deal. To use the opportunities and skills we possess, to reflect on the culture we’re creating. Individually and collectively, these are our efforts to help shape the thinking of our future generations, and arm them with strategies for true, sustainable growth.

Knowledge-sharing is intrinsic to equity and inclusivity.

This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

Relevance is critical to growth. It necessitates a firm that is dynamic and responsive.

Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Jul 23, 2024

Amendment to Foreign Currency Accounts by a Person Resident in India Regulations

RBI has, by way of a Notification dated April 23, 2024, amended the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2015 (‘Foreign Currency Regulations’). Prior to the amendments, sub-clause (F) of Regulation 5 of Foreign Currency Regulations stipulated that subject to compliance with conditions in relation to raising of external commercial borrowings, or raising through American or global depository receipts, the funds that are raised, pending their utilization or repatriation to India, will be held in deposits in foreign currency accounts with a bank outside India. With the current amendment, additionally, the funds that are raised through direct listing of equity shares of companies incorporated in India on international exchanges, pending their utilisation or repatriation to India, will also be held in foreign currency accounts with a bank outside India.

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DISCLAIMER

These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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