FEMA - Investment in foreign securiy

BRM (Job - CA firm) (23 Points)

30 April 2008  

Dear All,

I would like to know the implications if required documents (e.g. form ODA supported by documents listed therein, i.e., certified copy of the Board Resolution, Statutory Auditors certificate, Valuation report (in case of acquisition of an existing company) as per the valuation norms) for investment in foreing security i.e. wholly owned subsidiary is not filed with authorised dealer.

How big its impact on organisation of such failure?

Regards,

BRM