HC directs RBI to reconsider plea of JSPL to remit USD 300 million to its wholly owned Mauritius based subsidiary

FEMA, BANKING & INSURANCE : RBI was to be directed to reconsider application of petitioner, Jindal Steel and Power Ltd. (JSPL) who had sought directions from RBI to permit it to make additional commitments and payments of USD 300 million to its wholly-owned Mauritius based subsidiary by way of equity subscription or loan or corporate guarantee or bank guarantee or through other permitted mode from Indian Bank for meeting its debt obligations, as rejection of application of petitioner was illegal

from www.taxmann.com Latest Case Laws https://ift.tt/3oiRNXk