Can AD bank approve for extension of the project account after the tenure of the project for genuine reasons like completion of warranty period, statutory works like Income tax assessments, VAT assessments, Service tax assessments, to make arrangements for the sale of assets etc.

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..... ments, Service tax assessments, to make arrangements for the sale of assets etc.
Liaison / Branch / Project Offices of foreign entities in India - As on Dec 26, 2016 - FEMA - FAQ
FEMA
Ans. Ye .....

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