Allotment of shares

Well I guess following will help,

A two-stage reporting procedure has to be done· On receipt of money for investment: Within 30 days of receipt of money from the investor, the Indian company will report to the Regional Office of RBI under whose jurisdiction its Registered Office is located, a report containing details such as: Name and address of the investors Date of receipt of funds and their rupee equivalent Name and address of the authorised dealer through whom the funds have been received, and Details of the Government approval, if any;  on issue of shares to foreign investor:·

Within 30 days from the date of issue of shares, a report in Form FC-GPR together with the following documents should be filed with the Regional Office of RBI:

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;  Certificate from Statutory Auditors or Chartered Accountant indicating· the manner of arriving at the price of the shares issued to the persons resident outside India.