Fema-fcgpr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2013 I want to know what shall be the implcation that if Form 2 is filed beyond 30 days of allotment however with 180 days of foreign inward remittance and FCGPR Form is also filed after 30 days of allotment.

Will the Certificate from PCS contain any qualification.

Plz help

Ajay Mishra

Ajay Mishra (Expert)
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20 November 2013 Hi

You are talking two question:
1. Filing of Form-2 with late fee
2. Filing of FC-GPR

In reference to your first query, you file Form-2 with late fee with ROC. No issue.

Now in second query, you will file Form-FC_GPR to AD with in 30 days, if you have not submit in time, then give an undertaking about condonation of delay.

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2013 Thank you Sir for your reply.

One more query is that will PCS give any qualification in the CS certificate.

Is there any specific format for undertaking about condonation of delay or else we can mention that the same is filed late inadvertently.

Plz advise.

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Ajay Mishra

Ajay Mishra (Expert)
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20 November 2013
Subject: Condon of Delay in Submission of FC-GPR

Dear Sir/Madam,

This is with reference to submission of Form FC-GPR (Part-A) with RBI through our Authorized Dealer (i.e. RBS Bank Limited). The company received total consideration of Rs. .....05/- for the allotment of equity shares to foreign investor (i.e........ Limited). The details of consideration received by the company have already been submitted with RBI. The company has issued and allotted ...... equity shares at a face value of Rs. .../- per share within 180 days from the date of received from foreign investor.

We apologize for not submitting of Form FC-GPR (Part-A) within 30 days from the date of allotment, the reason was beyond our control as the person looking after the allotment suddenly resigned and nobody was aware that this particular compliance has not been fulfilled.

So, kindly condone the delay in view of the fact mentioned above and acknowledge the same.

Thanking you with warm regards

For ................. Pvt. Ltd.

Authorised Signatory

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Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2013 Thank u very much Sir....
Sir,what abt the qualification in CS certificate.Will PCS Qualify that return of allotment and FCGPR is filed late

Ajay Mishra

Ajay Mishra (Expert)
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20 November 2013 No You take CS certificate that compliance has been made.

No need to take CS certificate for late filing.

The certificate will be on date with in 30 days of allotment.