1. In which of the following event(s), a No Objection Certificate is required to be obtained
from the lenders in India with respect to the guarantees and outstanding borrowings of
Indian company?

2. What is an inbound merger?

3. Where an Indian Company merges with a foreign company, is the Indian company
required to ensure that the valuation is conducted by valuers recognized by regulatory
body in India?

4. Are borrowings of a foreign company from overseas sources that become the
borrowings of the resultant company exempt from Foreign Exchange Management
(Borrowing or Lending in Foreign Exchange) Regulations, 2000 or Foreign Exchange
Management (Guarantee) Regulations, 2000 or Foreign Exchange Management
(Borrowing or Lending in rupees) Regulations, 2000, if such borrowing is guaranteed by
a foreign company?

5. Whether or not a resultant company in an outbound merger, is permitted to undertake
any transaction (as permitted to a branch office under Foreign Exchange Management
(Establishment in India of a branch office or a liaison office or a project office or any
other place of business) Regulations, 2016) from an office in India of the erstwhile Indian
Company?