Intimation to RBI
This query is : Resolved
06 May 2009
In one of the our company the whole equity has come as FDI. Than after we have received fund from our foreign holding company for which we havn't given any intimation to RBI for tha same.
I would like to know that which form i require to submmit with RBI and what is the procedure and time period for the same intimation....
I would like to know that which form i require to submmit with RBI and what is the procedure and time period for the same intimation....
CS Vivek Hegde
(Expert)
07 May 2009
Dear Prakash
U need to follow following procedure.
1.Receive the money in foreign currency and get related FIRC from AD Bank.
2. Report to RBI within 30 days from the receipt of money in the formats given in the above circular along with KYC report from AD Bank(refer RBI circular 44 dated 30.05.08)
3. Allot the shares within 180 days of the receipt as above.
4. Report to RBI within 30 days from allotment in Form FCGPR as per the above circular.
All reporting should be routed through AD Bank.
rgds
Vivek
U need to follow following procedure.
1.Receive the money in foreign currency and get related FIRC from AD Bank.
2. Report to RBI within 30 days from the receipt of money in the formats given in the above circular along with KYC report from AD Bank(refer RBI circular 44 dated 30.05.08)
3. Allot the shares within 180 days of the receipt as above.
4. Report to RBI within 30 days from allotment in Form FCGPR as per the above circular.
All reporting should be routed through AD Bank.
rgds
Vivek
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