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FEMA - CA certificate for FC-GPR Part A - Urgent

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 January 2011 Dear All,

As per Para 9 B of Schedule I to Notification No. FEMA 20/2000-RB dated May 3, 2000 "A certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of shares issued to the persons resident outside India is required."

Now the question is "If company is issuing the share at Face Value than also this Certificate is necessory?"


Regds
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
13 January 2011 A certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of shares issued to the persons resident outside India is required even if company is issuing the share at Face Value .
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
13 January 2011 Valuation should be made under the "discounted cash flow method" as prescribed by the FEMA regulations.
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
08 March 2011 The answer is YES.

Anuj
0-9810106211

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