What is the procedure to be followed for such disinvestment and what are the documents to be submitted for disinvestment of existing holding in a JV/WOS?

A. The Indian Party may apply for disinvestment to the designated Authorized Dealer/Reserve Bank (in case the proposal is not eligible to be considered by the Authorized Dealer) with the following documents/information :
i. letter giving the reasons for the disinvestment;
ii. latest Annual Performance Report on the working of the JV/WOS;
iii. certified true copy of the Board Resolution approving the disinvestment and indicating the amount of disinvestment approved;
iv. letter of offer from the purchaser;
v. consent letter from the partners in case of disinvestment of share in a JV abroad; vi. valuation certificate on the value of shares of the JV/WOS;
vii. certificate from a Chartered Accountant certifying that no dues are outstanding to the Indian party or indicating the details of dues, if any, from the JV/WOS to the Indian party.