Authorized share capital violation
This query is : Resolved
Sriram Srinivasan
(Querist)
05 October 2016
Hi, this is my first time ever using this forum. Request your expert guidance.
I work for a company in Thailand that has 100% FDI in a company in India.
Currently authorized capital is 10 crores.
Capital has already been transferred for 13 crores
3 crores was transferred 56 days ago.
I understand that capital is required to be increased within 60 days.
If it is not completed, what is the implication? What is the violation and potential problems faced by the company in India?
I work for a company in Thailand that has 100% FDI in a company in India.
Currently authorized capital is 10 crores.
Capital has already been transferred for 13 crores
3 crores was transferred 56 days ago.
I understand that capital is required to be increased within 60 days.
If it is not completed, what is the implication? What is the violation and potential problems faced by the company in India?
18 October 2016
Sri, This query has multiple legal implications such as FEMA, Company Law, IFRS and Taxation. It is advisable to go to a CA practices in FEMA. I see that the query was posted 12 days early, so you seem to have lost the 60 day mark. So hurry...good luck!
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