Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
16 June 2011Friends
An indian company allotted equity shares to person resident out of india. But it failed to submit FC GPR part A to RBI (or throigh AD bank) within 30 days. The allotment was made before 1 year. What to do ?
please share your valuable thoughts
Jaideep
(Service)
(1368 Points)
Replied 16 June 2011
File FCGPR seeking condonation of delay, contact authorised dealer they will help you to carry out process...
Regards
Jaideep Pandya
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 16 June 2011
File FCGPR with AD , then you shall get a notice from RBI for compounding of the issue. Then you need to explain RBI Mumbai the reasons and problems due to which the FCGPR was not filed in time. If RBI,Mumbai considers your plea appropriate then it may compound the offence .
RBI has power to impose penalty upto 3 times of the value of shares allotted.
Anuj
0-9810106211
CA CS CMA Sanjay Kumar Sareen
(Professional Faculty)
(186 Points)
Replied 16 June 2011
This need immediate addressal to Your AD about FCGPR alongwith reasons of delay in filing the same. RBI regional office shall issue you a notice where detailed explanation with reasons need to be tendered . This should be done immediiately.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 17 June 2011
Friends
Can you briefly explore some of the reasons which can be submitted to RBI for condonation of delay.
Regards,
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 20 June 2011
Friends
Any thoughts....
Regards
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 20 June 2011
May i ask Mr. Rajnikant Vadigoppula and Mr. Future CA to share his valued thoughts please.
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 20 June 2011
The reasons can be attritubuted to the facts in case. That needs studying the facts of the case.
Tejal
(CS)
(123 Points)
Replied 26 October 2012
Dear All,
What if there are 2 Authorised Dealers?
Whom to submit FCGPR?
I am really confused... please help its damn urgent....
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 02 November 2012
The application can be filed with any AD.
Anuj
femaquery @ gmail.com
Tejal
(CS)
(123 Points)
Replied 03 November 2012
Thank you Sir for your reply..
But bank is not accepting the FCGPR because of two AD..
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 04 November 2012
Kindly take the refusal from AD on record and then you are free to approach RBI for their intervention in the matter.
Anuj
femaquery @ gmail.com
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