2. With a view to liberalizing the procedure, it has now been decided to dispense with the above-mentioned statement with immediate effect.
3. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the FEMA, 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law.
A.P. (DIR Series) Circular No.11dated September 10, 2015