Mani Jain (company secretary) (38 Points)
03 November 2008Hi friends
Ive just joined a Co in which Fc-GPR has been filed for allottment of shares to NRI. Now a letter is received by us for submission of further documents. Can anyone tell me from where can i find that the advance received in foreign currency against the equity issued is on repatriable basis or on non-repatriable basis.
please help.
Thanks
Mani
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 03 November 2008
The applicant would have mentioned it.
Kumar
(Legal Consultant)
(358 Points)
Replied 07 November 2008
Dear Mani,
Investment by NRI is generally on non-repatriable basis under FDI poilcy.
Please check your comapny details if there is any approval from the RBI or FIPB.
Regards,
Juzer Sadikot
(CA - innovative solutions for Imports and Exports)
(1309 Points)
Replied 07 November 2008
Dear Mani,
CAclubindia
