We have recieved the amout from foreign collaborators for share capital. I just wanna know whether we have to inform RBI in this regard. what will be the procedure in this case.
4 Replies
HARDIK
(COMPANY SECRETARY NCFM (Corporate Governance ))
(664 Points)
Replied 25 March 2009
hi
yes, you have to inform the RBI within 30 days of the receipt of the money as well as within 30 days of allotment of shares.
Gargi Ranade
(CS)
(619 Points)
Replied 27 March 2009
Rabnoor sir,
You are required to obtain FIRC from the bank in which you recd the subscripttion ,once you will recd ,you need to submit it with RBI trough authorised bank means through same bank from which you collected FIRC it is required to be submitted within 7 days of receipt of FIRC and once you do the allotment you are required to submit form FCGPR within 30days through same authorised dealer.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 27 March 2009
Yes, after collection of FIRC/Form A3 you need to file it with RBI through A.D. Bank with in 7 days...
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