Dear Friends,
Mr. A (Resident of US) (NRI) is the shareholder of XYZ Limited (Incorporated in India) (Listed on BSE)....
Mr. B (Brother of Mr. A) is resident of India..
XYZ Limited issues RIGHT shares..Mr.A gives Authority to Mr. B for paying the money on his behalf which Mr. B does from his Normal Indian Saving Bank Account.
Now;
1) Will this be treated as FDI Transaction ?
2) Will form FCGPR Part A be required to be filed ?
Please forward the supportings if any.