Fcgpr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2012 Dear Sir

Is it required to file form FCGPR with RBI for issuing shares on account of amalgamation.

Please clarify

regards

CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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01 November 2012 In case there is not any foreign inward remittance, Form FCGPR is not required to be filed.

I have dealt with the matter wherein no foreign inwared remittance was involved but i have filed form FCGPR throught Authorised Bank, but RBI has clearly replied that in case there is not any inward remittance then RBI is not involved anyway.

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2012 Bust Sir Master circular of RBI and FBI circular also says if there is any transfer to non-resident on account of amalgamation then we have to file FCGPR.

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CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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02 November 2012 You may file but RBI will not accept it.

I would advice you to file form FCGPR, it will complete your records.