With due respect, seeking your kind guidance -
In 2014, one unlisted public ltd Co had remitted an amount to its wholly owned subsidiary in UAE [ "x" amount as equity & "y" amount as Redemable Preference shares].
However, in Form FC[ FEMA- OVERSEAS INVESTMENT] Regulation, we erroneously showed this as equity.
Now as we want to bring back preference share value "y" , we are facing issues in changing Project Profile and are unable to submit Form APR & FLA Return?
How to proceed further? AD is siting on our application
Regards,
Jayanta kumar Bandyopadhyay
CAclubindia
