01 February 2013
can anyone tell me if an indian party invest in its WOS abroad and after first remmitance, what is the post compliance under FEMA and under Companies Act? after due study by me,I observe the following complinaces:-
Under Fema obligation of indian party:
1. Share Certificate to be received within six month from the date of remmitance and report to Authorised Bank 2. ODI Form Part- III i.e APR to be filled by 30 june to AD Bank 3. Annual Return on foreign liabilities and assets by 15 july
Under Companies Act: Balance sheet of WOS to be included in its holding Company AS PER SECTION 212 of Companies Act, 1956 So please advice will it sufficient compliance or any other thing to be included....
CAclubindia
