An Indian
company receiving FDI either under the Automatic route or
the Government route is required to comply the following:
1. Report to RBI, the details of the receipt of the amount towards issue shares
through an AD Category –I Bank, together with copy of the Foreign Inward
Remittance Certificate (FIRC) evidencing the receipt of inward remittances
along with the Know Your Customer (KYC) report on the non-resident investors
from the overseas bank remitting the amount within 30 days from the date of
receipt of inward remittances.
2. Indian company is required to issue the shares within 180 days, from the
date of receipt of inward remittance.
3. After issue of shares, the Indian company has to file the Form
FC-GPRWITH the required documents toReserve
Bank of India through an AD Category –I Bank within 30 days of issue of shares
to the non-resident investors.
(Pioneers of online incorporation in
India)
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