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FEMA Declaration Form

The document is a declaration form required under Section 10(5) of the Foreign Exchange Management Act of 1999. It contains 3 key points: 1) The declarant states that any foreign exchange transactions described in the schedule do not contravene or evade any provisions of the Act or related rules and regulations. 2) The declarant agrees to provide any information or documents requested by the bank to reasonably satisfy them regarding the transactions. 3) If the declarant refuses to comply, the bank is authorized to refuse the transaction and report the matter to the Reserve Bank of India if any contravention or evasion is suspected.

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Parag Sarode
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5K views1 page

FEMA Declaration Form

The document is a declaration form required under Section 10(5) of the Foreign Exchange Management Act of 1999. It contains 3 key points: 1) The declarant states that any foreign exchange transactions described in the schedule do not contravene or evade any provisions of the Act or related rules and regulations. 2) The declarant agrees to provide any information or documents requested by the bank to reasonably satisfy them regarding the transactions. 3) If the declarant refuses to comply, the bank is authorized to refuse the transaction and report the matter to the Reserve Bank of India if any contravention or evasion is suspected.

Uploaded by

Parag Sarode
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

FEMA DECLARATION

Annexure 18/7
Format of Declaration Cum Undertaking
(Under Section 10 (5), Chapter III of Foreign Exchange Management Act, 1999)
I/We hereby declare that the transaction(s) the details of which are specifically mentioned in
the Schedule hereunder does not involve and is not designed for the purpose of any
contravention or evasion of the provisions of the aforesaid Act or of any rule, regulation,
notification, direction or order made thereunder.
I/We also hereby agree and undertake to give such informations/ documents, before the Bank
undertakes the transaction(s) and as may be required from time to time as will reasonably
satisfy you about the transaction(s) in terms of the above declaration.
I/We also understand that if I/We refuse to comply with any such requirement or make
unsatisfactory compliance therewith, the Bank shall refuse in writing to undertake the
transaction and shall if it has reason to believe that any contravention/ evasion is
contemplated by me/us report the matter to Reserve Bank of India.
*I/We further declare that the undersigned has/have the authority to give this declaration and
undertaking on behalf of the firm/company.
------------------------------
Signature of the applicant
For Foreign Exchange
Place :
Date :
* Applicable when the declaration/undertaking is signed on behalf of the firm/company.
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SCHEDULE
Nature/Purpose of Foreign Exchange transactions ................
Amount of Foreign Exchange to be released : ................
Beneficiary : ................
-------------------------------------------------------------------
For office use : Details of documentary evidence verified :

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