HANU (SELF) 04 May 2013

Recievied amount for development

Dear All Lawyers

I had recived Pound from on eo f my New customer to develop product for him which he want to produce in INDIA. as I already presan tthe proto type. and they like it.

But when I recived Money in My Bank I inform that money wil use for Export ( Which is only its invesment to develop machinery - to start the production)

Now How can i convince the RBI that this money is used here to development and not going to send back as well as not in other form like export or reremit to coustomer

Somo of part develop in China and import.

Mainpoint -Money recived from coustomer porsonal Account and export done to outher account which payment I received in advance as per each invoice.

Any way to convince RBI about this proccese.

Amount value is around 20000 Pound 2011

Regards

HANU

Reply Follow

2 Replies

(Guest)

Dear Hanu,

Whats important to mention here is whether you are a company or an individual? Unless that position is not clarified, we wont be able to give any advice.

1 Like

Avadhesh Paliwal (advocate) 07 January 2014

Dear Hanu

RBI and Govt. policiies authorities is always in favour of NRI AND EXPORTED firm you can complained to export promotion council for that where it is in delhi or higher a consultant CA which is dealing in export pormotion council liasoning....

if you are not satisfy then you can call to me ---

Regards,

Avadhesh Paliwal