Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Form FC TRS , Fema transfer of securities

Mayuri Lal (officer CS) (748 Points)

25 November 2010

dEAR Members,

in the issue of preferential allotment to an NRI ..will FEMA transfer of securities will be applicable?? i.e Form FC TRS???

As per my observation it wont be ... i wanted to confirm...

Please guide me..

regards,

Mayuri Lal

Reply
Follow
Share

9 Replies

udit sharma (Company Secretary) (2303 Points)
Replied 25 November 2010

Hi..

U r absolutely right! As per FDI Circular dated 01.07.2010 issued by RBI, Form FC-TRS is tobe filed only in case of transfer of shares from resident to non-resident or vice versa and not in case of preferential allotment! However, in my opinion u will have to File Part A of Form FC-GPR with the RBI Through the registered Authorised Dealer within 30 days from the allotment of shares......

Hope this solves your query!

God Bless

Udit Sharma

Upgrade to CAclubindia Pro. Subscribe Now!

Suresh Prasad (www.aubsp.com) (15630 Points)
Replied 25 November 2010

I also agree with Sharma Ji................

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 25 November 2010

Yes you have to file fc-gpr. A

Mayuri Lal (officer CS) (748 Points)
Replied 26 November 2010

... my doubt is clear now..

thank u

Avanti (CS) (23 Points)
Replied 24 February 2011

Dear All,

Is form FC TRS required evenif securities IN DEMAT FORM have been transferred from Resident to non-resident or vice-versa?

please help.........

Upgrade to CAclubindia Pro. Subscribe Now!

Jaideep (Service) (1368 Points)
Replied 24 February 2011

Yes FCTRS is required even if it is in Demat form.

meenakshi gupta (Company Secretary & Compliance Office) (21 Points)
Replied 25 February 2011

Originally posted by : Jaideep
	Yes FCTRS is required even if it is in Demat form.

i also agree with Jaideep.

sonia (student) (37 Points)
Replied 18 February 2012

Dear Members,

I need to know what is the effective date of transfer of shares from a resident to a non-resident????

whether it is when the transfer deed is signed or Form FC TRS is filed.

Waiting 4 reply...

V K Bajaj (Accountant) (1540 Points)
Replied 22 August 2012

Ms Sonia

Definitely share transfer process can be started immediately on getting the intimation from Authorized Dealer Bank as "FC TRS process is successful" but before the register of members (shareholders) is closed due to AGM.

contact @ vkbajaj.co.in