FEMA-PROJECT PROFILE

Jayanta Bandyopadhyay (239 Points)

15 May 2024  

With due respect, seeking your kind guidance -

 

In 2014, one unlisted public ltd Co had remitted an amount to its wholly owned subsidiary in UAE [ "x" amount as equity & "y" amount as Redemable Preference shares].

 

However, in Form FC[ FEMA- OVERSEAS INVESTMENT] Regulation,  we erroneously showed this as equity.

 

Now as we want to bring back preference share value "y"  , we are facing issues in changing Project Profile and are unable to submit Form APR & FLA Return?

 

How to proceed further? AD is siting on our application 

Regards,

Jayanta kumar Bandyopadhyay