Watson Ltd., a company incorporated in Australia, has a place of business through an agent in Mumbai. The agent transacts the business on behalf of the company through electronic mode. As regards Watson Ltd., answer the

A foreign company or individual planning to set up business operations in India can do so through a Liaison Office/Representative Office, Project Office or a Branch office. The Foreign Exchange Management (Establishment in India of Branch and Office or other place of business) Regulations, 2000 govern the opening and operation of such offices. Accordingly, Companies incorporated outside India, desirous of opening a Liaison Office or Branch Office in India have to make an application in Form FNC1 through an AD Category I bank which is authorized by RBI to forward such application to the Chief-Manager-in-charge of RBI Foreign Exchange Department, FDI division, Central Office, Mumbai-400001.