A Pvt Ltd was incorporated in Feb'2016 with a motive to received 99.99% FDI but as the subscribtion money was not received till Oct'16 we could not issue share to the subscriber but as we received the subscripttion money on Nov'16 within two months we have issued him share now the RBI asked to provide CS certificate that the issue with such gap after incorporation is in confarmity with companies act 2013. Pls suggest the exact provision. We have complied all other FEMA compliance.
Thanks
K.Roy
CAclubindia
