Exchange Control Laws

With the substantial liberalization in exchange control regulations, India has become an attractive destination for overseas organizations.  This liberalization coupled with increased buoyancy in the Indian economy has also greatly facilitated the decision of Indian investors to set-up a business or base overseas.  Our range of services in this area includes:

  • Advising in designing a structure for inbound and outbound investments;
  • Advising on setting up joint ventures/subsidiaries with non-resident participation and obtaining approvals from the Foreign Exchange Promotion Board/Reserve Bank of India, as the case may be;
  • Advising on External Commercial Borrowings (ECBs) and obtaining the necessary approvals;
  • Advising on transfer of shares from residents to non-residents and vice versa and
  • Advising on setting up of liaison offices and branches in India and overseas.


CNK & Associates LLP  (formerly Contractor, Nayak & Kishnadwala) is a firm of Chartered Accountants, based in Mumbai, India's financial capital. With 22 experienced partners and more than 80 qualified Chartered Accountant employees.


3rd Floor, Mistry Bhavan,

Dinshaw Vachha Road, Churchgate, 

Mumbai 400 020. India

Phone: +91 22 66230600