Dear all,
Could you please let me know whether FEMA (Transfer or Issue of any Foreign Security) Regulations 2000, applicable for foreign promoters also?
In my case, the company is private Indian company and its one of the promoter is a foreign Company. So my question is whether the said regulation will be applicable for subscripttion shares also?
In case of subscripttion shares, there is no requirement of filing return of allotment as the subscribers bcome entitled to shares by virtue of the MOA. Therefore, do we need to inform RBI in advance about the receipt of money from promoter and file FCGPR within 30 days of allotment?
Thanks in advance
waiting for the reply
Suchita
CAclubindia
