Mayuri Lal (officer CS) (748 Points)
22 November 2010Dear Members,
For the year ended 31.03.2007, 31.03.2008, 31.03.2009 and 31.03.2010. What will be the date for submission of PART B of Form FC GPR.
Please correct me if i am worng according to the notifications
| Date of B/s | Form FC GPR to be submitted by |
| 31.03.2007 | 30.06.2007 |
| 31.03.2008 | 31.07.2008 |
| 31.03.2009 | 31.07.2008 |
| 31.03.2010 | 31.07.2010 |
Its urgent...
regards,
mayuri Lal
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 22 November 2010
Hi
Yes, You are rignt, Part B of FC-GPR for the FY ending 31.03.2007 will be filed till June 30, 2007. As per the following notification:
RBI/2007-2008/342
A. P. (DIR Series) Circular No. 44
May 30, 2008
To
All Category - I Authorised Dealer Banks Madam / Sir,
Reporting under FDI Scheme - Revised procedure
Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to provisions of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000, as amended from time to time and A. P. (DIR Series) Circular No.40 dated April 20, 2007.
2. In terms of para 9 (1) A of Schedule I to the Notification, Indian companies are required to report the details of the amount of consideration received for issuing shares and convertible debentures under the Foreign Direct Investment (FDI) scheme to the Regional Office of the Reserve Bank in whose jurisdiction the Registered Office of the company operates, within 30 days of receipt of the amount of consideration. Further, in terms of Para 9 (1) B of Schedule ibid, the companies are required to report the details of the issue of shares / convertible debentures in form FC-GPR, to the Regional Office concerned, within 30 days of issue of shares / convertible debentures.
3. In order to capture the details of FDI in a more comprehensive manner, form FC-GPR was revised vide A. P. (DIR Series) Circular No.40 dated April 20, 2007. The reporting framework was again reviewed and further revisions were proposed and the revised draft of form FC-GPR was placed in public domain on March 14, 2008 inviting feedback from the public. Based on the feedback received, form FC-GPR has been revised. The revised form is enclosed at Annex I. Further, a standard format for reporting of the receipt of the amount of consideration for issue of shares / convertible debentures has been prescribed as Annex II. A format for the KYC report on the non-resident investor from the overseas bank remitting the amount required to be submitted along with the form FC-GPR has also been introduced (Annex III). The KYC report should, henceforth, be submitted at the time of reporting the receipt of the amount of consideration from the nonresident investor.
4. Accordingly, Indian companies are required to report the details of the receipt of the amount of
consideration for issue of shares / convertible debentures in Annex II, together with a copy/ies of the FIRC/s
evidencing the receipt of the remittance along with the KYC report on the non-resident investor in Annex III,
through an AD Category – I bank, not later than 30 days from the date of receipt of the amount of
consideration. The report would be acknowledged by the Regional Office concerned, which would allot a Unique Identification Number (UIN) for the amount reported.
5. The details of the issue of shares / convertible debentures should, henceforth, be reported in the revised form FC-GPR (Annex I). While forwarding form FC-GPR to the Regional Office concerned, the AD Category – I bank should ensure that the UIN is correctly indicated in the form. It is also clarified that the annual report of all investments which is to be filed in Part B of the revised form FC-GPR, which is hitherto to be submitted by June 30 every year, would now have to be submitted by July 31 every year.
6. Necessary amendments to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 notified vide Notification No. FEMA 20/2000-RB dated May 3, 2000 will be issued separately.
7. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned.
8. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law.
Yours faithfully,
(Salim Gangadharan)
Chief General Manager -in- Charge
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 22 November 2010
Agree with Ajay Sir.
Mayuri Lal
(officer CS)
(748 Points)
Replied 23 November 2010
I ahve one more doubt..that preferential allotment to NRI was done on 4th August 2007.. n no annual return in Part Bof FC GPR are filed ...so shud we jus prepare it on the back debt and send it???
or wat are its consequesnces
Chimmu
(cs)
(32 Points)
Replied 23 November 2010
Dear Friends,
i have one doubt regarding this..if the Accounting year of the Company is from January to December then what will be the proccedure?
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 23 November 2010
Dear Chimmu
(a) Part-B of Form FC-GPR should be filed on an annual basis by the Indian Company, directly with the “Advisor, Balance of Payment Statistical Division, Department of Statistics and Information Management, RBI, C9, 8th Floor, Bandra-Kurla Complex, Bandra (E), Mumbai-400051”. This is an annual return to be submitted by 31st July every year, pertaining to all investments by way of direct/portfolio investments/re-invested earning/ others in the Indian company during the previous years.
If your previous year end on 31-12-2009 you will file Part-B-FCGPR upto July 31, 2010.
Regards
CS Ajay Mishra
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 23 November 2010
Dear Mayuri
File Part B of FC-GPR for the FY 2006-07 with letter of condolation of delay of filing such form.
Regards
CS Ajay Mishra
Chimmu
(cs)
(32 Points)
Replied 23 November 2010
Dear Ajay Sir,
Thank you so much.
need one more clarification on the same.The Information is upto 31st March 2010 or 31st July 2010?
Mayuri Lal
(officer CS)
(748 Points)
Replied 23 November 2010
information will be upto 31.03.2010 and to be sumitted by 31.07.2010
Mayuri Lal
(officer CS)
(748 Points)
Replied 23 November 2010
hi
the details will be till 31.03.2010 and will have to be submiited by 31.07.2010
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 24 November 2010
Hi
Agreed with Mr. Mayuri ......
Pratikkumar Lodaya
(Assistant Manager)
(40 Points)
Replied 06 February 2012
Sir,
Query is related to Annex III, KYC Form in respect of the non - resident investor.
In form last point is "period of banking relationship with the remitter".
In which reference this question is asked -
1. Foreign Investor's relationship with their Foreign Bank
2. Indian Company with their Indian Bank
3. Indian Company's Banking Relationship with Foreign Investor
4. In case if Foreign Investor is Individual
jeets
(CS )
(461 Points)
Replied 06 February 2012
It would be
1.Foreign Investor's relationship with their Foreign Bank
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