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ARTICLE · 08 JANUARY 2025

Successful Repatriation Of Overdue Funds

Nexdigm USA
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Ensured successful repatriation of overdue funds without any FEMA non-compliance.

United StatesFinance and Banking
Nexdigm USA
Nexdigm USA
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Case Highlights

Ensured successful repatriation of overdue funds without any FEMA non-compliance.

  • Amount involved: INR 75 Million
  • Accumulated for: 4.5 Years
  • Repatriation TAT: 13 Months
  • Penalty paid: Nil
  • Non-Compliances Faced: None

US-Headquartered Quick-Service Restaurant Chain, with an Indian subsidiary, encountered significant operational challenges when a non-operational bank account crisis led to potential FEMA non-compliance risks. During routine financial oversight for the Indian subsidiary of a multinational corporation, Nexdigm uncovered a critical issue related to the subsidiary's bank account operations. The absence of an authorized signatory, coupled with the subsidiary's reliance on the head office for payments, resulted in accumulating liabilities in the Indian entity's financial records.

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