Clarification - Establishment of Branch Offices (BO) / Liaison Offices (LO) in India by Foreign Entities – Delegation of Powers.

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..... ies - Delegation of Powers Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No.24 dated December 30, 2009 in terms of which powers have been delegated to the AD Category-I bank regarding submission of Annual Activity Certificate by BO / LOs, extension of the validity period of LOs and closure of BO / LOs of foreign entities in India. 2 .....

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