Whether an LO can be upgraded under automatic route to BO under AD approval if overseas entity is eligible to open the BO under general permission?

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..... ities in India - As on Dec 26, 2016 - FEMA - FAQ
FEMA
Ans. Yes, under advice to Reserve Bank, FED, CO Cell, Sansad Marg, New Delhi 110 001.
Manuals, Ready reckoner, Law and practice, Referenc .....

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