Dear All,
Greetings!!!
An Indian Listed Company has allotted share warrants which will be converted into equity shares to one NRI residing at Dubai and one Foreign Portfolio investor from Mauritius.The both allottees have made the payment of consideration from bank account maintaining in India.
My query:
Is there any compliance under FEMA/RBI since there is no foreign inward remitance.
Regards,
CAclubindia
