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Share application money recieved from forign contry

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 July 2011 share application money received from foreign country and allotted preference share capital what are the formalities followed by a company regarding fema act and RBI rules it is private limited company .
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CS Bijoy

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CS Bijoy (Expert)
29 July 2011 Foreign Investment have two ways one Approval rote and another is Automatic rote in automatic rote approval of central government is not require to obtain but in approval rote approval is required to obtain, but the investment can not be exceed the limit prescribed by the RBI in case it exceed fresh approval will be required.
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