Originally posted by : jeets |
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Hello Expert,
I have filed a FC-GPR with AD. Now AD has reverted back with few queries
1- AD is asking for KYC-- Do we need to provide the AD with KYC. Normally its the AD who attaches KYC and submits the FC-GPR with RBI ( The international remitter and Indian counterpart is the same bank)
2- Do we need to attach CA certificate with FC-GPR, Its a new company a wholly owned subsidary and the money is remited in order to issue and allot share at the stage of incorporation. There is no data to value.
Any one, please reply...........
Thanks |
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Dear Jeets,
Regarding your first question, this is to inform you that KYC is the document which is provided by the Bank you not need to include KYC with form FC-GPR.
Secondly, followign certificates are required to be attached with Form FC-GPR:-
(i) A certificate from our Company Secretary certifying that
(a) all the requirements of the Companies Act, 1956 have been complied with;
(b) terms and conditions of the Government approval, if any, have been complied with;
(c) the company is eligible to issue shares under these Regulations; and
(d) the company has all original certificates issued by authorised dealers in India evidencing receipt of amount of consideration in accordance with paragraph 9 of Schedule 1 of Notification No. FEMA 20/2000-RB dated May 3, 2000 as amended from time to time;
(ii) A certificate from Statutory Auditors / Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.
Furthermore, copies of FIRCs are also requried to be attached with Form FC-GPR which were already provided by the Bank.