Share capital - FEMA implications
This query is : Resolved
16 February 2011
Comp Xpvt.ltd is a 100 % subsidary of an international company(Y Int Inc). In the year 2010, X pvt.ltd received additional share capital from Y co. in US dollars..Can anyone please help me out on the compliances of both Indian companies Act and FEMA ?
16 February 2011
Under FEMA:
Within 30 days of the receipt of share application money,the Company has to initmate the same to RBI through its Authorised Dealer in the prescribed format and attachments.
Within 180 days of the receipt of share application money, u will have to allot the shares to the Non resident investor.
Within 30 days from the date of allotment, you will have to file Part A of Form FC-GPR with the RBI through Authorised Dealer.
Part B of Form FC - GPR to be filed on an Annual basis on or before 31st July directly with RBI.
Under Companies Act, 1956
File return of allotment in prescribed Form 2 within 30 days of allotment of shares as per section 75 of the Companies Act, 1956
Within 3 months from the date of allotment, issue the Share Certificates.
God Bless
CS Udit Sharma
Within 30 days of the receipt of share application money,the Company has to initmate the same to RBI through its Authorised Dealer in the prescribed format and attachments.
Within 180 days of the receipt of share application money, u will have to allot the shares to the Non resident investor.
Within 30 days from the date of allotment, you will have to file Part A of Form FC-GPR with the RBI through Authorised Dealer.
Part B of Form FC - GPR to be filed on an Annual basis on or before 31st July directly with RBI.
Under Companies Act, 1956
File return of allotment in prescribed Form 2 within 30 days of allotment of shares as per section 75 of the Companies Act, 1956
Within 3 months from the date of allotment, issue the Share Certificates.
God Bless
CS Udit Sharma
16 February 2011
Thanks a lot Udit. This will definitely serve my purpose.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Specified Profession
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Agriculture income or business income
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
