21 September 2011
A company with a capital of Rs.3 lakhs for computer software activity was formed. 70% of the sharecapital is contributed by a Foriegn Co and the balance 30% by an Indian citizen working abroad(NRI). The amounts were sent through baning channel. But in the second case, at the time of remittance, the specific purpose not mentioned. Now what are the formalities to be complied with. If there is any delay in filing FCGPR, what will be the consequences. If anybody having a softcopy of FCGPR in word format, please forard to me. Please reply in detail.
When an Indian Company issuing shares to the non-resident under the automatic route, the Form FC GPR has to be filed with the RBI through AD Bank within 30 days from the date of allotment.
If there is any delay in filing FCGPR, u just attache the Covering letter for that purpose.
And Fc GPR format, u can download from http://www.rbi.org.in/Scripts/BS_ViewFemaForms.aspx (third from last).
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