Golden Global Ltd. is a company incorporated and registered in Germany. On 1st April 2012, it established a branch office at Chennai, India. The…

(a) According to section 2(u) of the Foreign Exchange Management Act, 1999, "Person" includes a company and any agency, office or branch owned or controlled by such person. Section 2 (v) defines a 'person resident in India'. As per this definition, the following shall be included in the definition of a person resident in India: (a) any person or body corporate registered or incorporated in India, (b) an office, branch or agency in India owned or controlled by a person resident outside India, (c) an office, branch or agency outside India owned or controlled by a person resident in India. As per the facts of the question and provisions of the Act, Golden Global Ltd. as well as Chennai branch of Golden Global Ltd. is a 'person'. Golden Global Ltd. (a foreign company) does not fall under any of the clauses of the definition of a 'person resident in India'. Therefore, Golden Global Ltd. is a person resident outside India.