FEMA - Investment in foreign securiy

Others 1065 views 6 replies

Dear All,

I would like to know the implications if required documents (e.g. form ODA supported by documents listed therein, i.e., certified copy of the Board Resolution, Statutory Auditors certificate, Valuation report (in case of acquisition of an existing company) as per the valuation norms) for investment in foreing security i.e. wholly owned subsidiary is not filed with authorised dealer.

How big its impact on organisation of such failure?

Regards,

BRM

Replies (6)

The RBI has power to impose penalty from 100% to 300% of the amount so invested.


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