Fema - filing of fc-gpr

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Dhruv Gaglani (Querist)
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10 July 2013 Dear All,
A private ltd company had issued 99% of its shares to an NRI at its inception in 2011 of the company. However, till date the company has not filed Form FC-GPR with RBI.
The Share capital of the company is Rs. 5 lacs and it is a service oriented company with hardly any assets except an office which is also on rental basis. The company's banker at its inception were different from its present bankers. Hence the previous bankers are refusing to accept the Form FC-GPR. What is the solution to this?

Thanking you in anticipation.

Ajay Mishra

Ajay Mishra (Expert)
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10 July 2013 Hi

First of all u submit Letter of condonation of delay for late intimation of receive of money and attached FIRC given by bank.

After that you submit three copies of Form-FC-GPR to your AD Bank with an undertaking for delay filing.

RBI will accept the same.