By

The Reserve Bank of India (RBI) said on Friday Indian companies having wholly owned subsidiaries abroad or having at least 51 percent stake in an overseas joint venture are now allowed to write off capital or other receivables in respect of the joint venture or subsidiary. The central bank said any such write-off or restructuring will have to be reported to the RBI within 30 days of the write-off.

 

For details, see here.

Leave Your Comment(s)