NRU
(Paragraph 10C.8)
Form of undertaking regarding non-repatriation of capital to be invested in firms/companies in India
In consideration of the Reserve Bank of India having agreed to permit me/us to invest an amount of Rs.___________________________________________________________________________________ Rupess_______________________________________________________________________________) in ____________________________________________________________________________________
(Name of firm/company in which investment is to be made)
I/We
______________________________________________________________________________________ son/daughter/wife of ___________________________________________________________________do
hereby
agree and undertake that I/We will not to at any time, seek repatriation of the capital invested. This undertaking will also be binding on may/our heirs, executors, successors and assigns and they will not be entitled to seek repatriation of any capital invested by me/us.
Place _____________________
Date ______________________
Signature/s of non-resident investor/s
--------------------------------------------------------------------------------------------------------------------------------- Note : In case of public issues through prospectus, the Indian company issuing shares may obtain the non-repatriation undertaking from the eligible non-resident investors on the shares subscription form itself. In such cases it will not be necessary to submit separate undertaking to Reserve Bank. The Indian company should, however, confirm while applying to Reserve Bank in Form ISD for permission to issue shares/debentures to non-residents that the required non-repatriation undertakings have been obtained from all non-resident investors.
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