Hi All,
Can anyone clarify that the Annual Performance Report(APR) to be submitted by Indian Entity having foreign WOS, should that be signed by the statutory auditor of that WOS or by Statutory auditor of Indian Entity.
Thanks in advance.
1 Replies
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 23 June 2011
ANNUAL PERFORMANCE REPORT (APR) DULY FILLED IN , SHOULD BE SUBMITTED WITHIN 30 DAYS OF THE EXPIRY OF STATUATORY PERIOD FOR THE FINALISATION OF AUDITED ANNUAL ACCOUNTS APPLICABLE IN THE HOST COUNTRY OF THE JV/WOS.
A CERTIFICATE INDICATING STATUATORY PERIOD FROM AN INDEPENDENT CHARTERED ACCOUNTANT /PUBLIC ACCOUNTANT OF THE HOST COUNTRY SHOULD BE ATTACHED. IN CASE WHERE IS NOT STATUATORY PERIOD APR SHOULD BE SUBMITTED IN 6 MONTHS FROM THE CLOSE OF RELEVENT PERIOD.
IN CASE THERE ARE MORE THAN ONE INDIAN PROMOTOR COMPANY, THE PRINCIPAL PROMOTER COMPANY HAS TO SUBMIT APR ON BEHALF OF ALL OTHER COMPANIES.
for more info:-
https://www.rbi.org.in/scriptts/FAQView.aspx?Id=32
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