FC -GPR IS DECLARATION FORM RBI SUBMITTED IN REGIONAL OFFICE OF RBI, FOR ELIGIBILITY OF ISSUE THE SHARE TO NON -RESIDENTS UNDER FEMA NOTIFICATION NO. 20/2000/RB DTD 3-05.2000.
PLEASE NOTED THAT After the Issue of shares, the company should file a report in Form FC-GPR not later than 30 days from the date of issue of shares, The report should contain the following details,
A certificate from the Company Secretary of the company accepting investment from persons resident outside India certifying that
All the requirements of the Companies Act, 1956 have been complied with;
Terms and conditions of the Government approval, if any, have been complied with;
The company is eligible to issue shares under these Regulations, and
The company has all original certificates issued by Authorised Dealers in India evidencing receipt of amount of consideration.
A certificate from Statutory Auditors or a Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.
Thanks for your expert advice, If company delay file a report in Form FC-GPR later than 30 days from the date of issue of shares. Than what will happen...
CAclubindia
