Monday, 14 April 2014

No violation of FERA norms if appellant co. remitted salary to its employees deputed in India throug

CL: Where parent corporation seconded its employee to its branch office-appellant in India, it could not be concluded that expatriate employees of parent corporation were 'borrowed employees' of appellants and, therefore, question of appellants 'acquiring' or 'otherwise transferring' any foreign exchange as a result of parent corporation remitting funds to appellants for disbursal of salaries of employees seconded to them did not arise


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