Section 15(iv) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004
(iv)[ Where the law of the host country does not mandatorily require auditing of the books of accounts of JV/WOS, the Annual Performance Report (APR) as referred to under sub" regulation (iii) may be submitted by the Indian party based on the un-aUdited annual accounts of the JV/WOS provided: [Inserted by Notification No. G.S.R. 516 (E) dated 8.5.2013 (w.e.f. 28.3.2012)]
