Shabnam Siddiqui (Company Secretary) (152 Points)
06 January 2011Is it necessary to get the CA CS Certificate to enclose with the FC GPR for issuance of Bonus Shares since no fund has been received and the bonus issue is out of capitalised profits.
Kindly clarify
Aman Jain
(Company Secretary in Practice)
(165 Points)
Replied 06 January 2011
Dear Ms. Shabnam ji,
Yes According to me it’s required. This reporting was come in force from 2008. Notification attached plz see para 6B.
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alka malpani
(Company Secretary)
(21 Points)
Replied 18 January 2011
dear shabnamji,
It is required. Stock Exchange will not give u listing approval if you do not submit the said form.
Monali
(Company Secretary)
(34 Points)
Replied 19 January 2011
Hi All!
I also have the same query. When the Company is issuing equity shares to NRIs as a consideration for the advisory services provided by them, foreign remittances are not coming in India then is it mandatory to file FC GPR Part A? If yes, what are the docs we need to submit?
Whether FIPB approval is required or Automatic approval will do?
Kindly clarify.
CA JASMINE MEHTA
(CHARTERED ACCOUNTANT)
(25 Points)
Replied 25 February 2011
hi
i have one query related to FC-GPR
I want to know whats the penalty if form is filled after one year?
And also whats the penalty,if any, for Form FC-GPR Part-II, if not filled?
Is it necessary to Form FC-GPR Part II?
Please guide me
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 20 March 2011
The penalty is upon the discretion of RBI officials which can range from 100% to 300% of the amount involved.
The compounding route by RBI shall be right thing to go for you.
If you are talking of FCGPR-PartB then yes the filing of the same is compalsary .
CAclubindia
