Indian entities can give guarantees on behalf of WOS abroad: Expert

Provided that the terms and conditions stipulated in Foreign Exchange Management Regulations, 2000, for promoting or setting up such company or subsidiary are continued to be complied with

Q. We are a SEZ unit. We refer to Rule 22(1)(v) of SEZ Rules, 2006 which says that “the Unit or the developer including co-developer shall obtain a Registration-cum-Membership Certificate for availing exemptions, drawbacks and concessions”. Does it mean that we may register with the export promotion council relevant to our product?

You have to read that provision with Rule 2(1)(zg) of the SEZ Rules 2006, which says that “Registration-cum-Membership Certificate” means the membership certificate issued by export promotion council (EPC) for export oriented units and SEZs. So, it is mandatory to register with the specified EPC. In addition, you