Neeta (Finance) (345 Points)
06 May 2010Hello Members
Please confirm me on the FDI procedure:
Stage 1: On receipt of funds : Give advance reporting to RBI in specified format along with KYC and FIRC copy
Stage 2 On issue of shares , File FC-GPR
Please forward the latest format of the Advance reporting and KYC form . I searched a lot in RBI site but didn't found any link to download these.
Regards
Neeta
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 06 May 2010
Your procedure and understanding is quite fine as usual.
Find enclosed a file containing reporting of FDI provisions.
Thanks
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17848 Points)
Replied 07 May 2010
Dear Neeta Ji,
FIRC and KYC is provided by the Bank, so companies are not required to dealt with KYC report. It is the matter of Authorised Dealer Category I Bank.
IN case of Stage I, a report is to be given to RBI within 30 days of the receipt of funds in Form FC-GPR
Stage II, a report is required to be given to RBI within 30 days of allotment of shares in form FC-GPR
Both form FC-GPR is required to be given to RBI through Authorised Dealer Category I Bank along with copies of FIRC and KYC (provided by bank).
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