FEMA : Issue of Shares : Certificate by CA

This query is : Resolved

Ravindra B A (Querist)
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05 January 2011 Hi,

Can anyone give me the format of Certificate to be issued by CA to be filed alongwith FC-GPR & FC-TRS.

As per RBI guidelines and form only following information is available :

A certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.

Any thoughts in this regard is highly helpful. Thank you in advance.

Ajay Mishra

Ajay Mishra (Expert)
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06 January 2011 Hi

TO WHOMSOEVER IT MAY CONCERN

This is to certify that ………equity shares of ……….Limited/Private Limited having its registered office at ………….. has been allotted to ………….. having its office at…… at the face value of Rs……/- per shares. Other shareholders of the company have also been allotted the shares at face value of Rs. …/- only. This is as per the information and records furnished to us.

For XYX & Associates
Chartered Accountant

Partner
Membership No…..

Date
Place

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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09 January 2011 The format is good but there is no mention of actual working based on DCF method which is basis of arriving at any value.The detailed working based on discounted Cash Flow Method (DCF) is required to be enclosed.

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