Hi
we are a pvt ltd company who received share application money from nri abroad. we han't alloted the shares before 180days what would be the procedure to be followed.
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FEMA Share capital contravention
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| Originally posted by :Surya Mallampally | ||
| " | Hi we are a pvt ltd company who received share application money from nri abroad. we han't alloted the shares before 180days what would be the procedure to be followed. |
" |
send back the money and ask them to remit the same once again.
Or
Complete the allotment now, file FC-GPR with RBI. Inform RBI through letter the genuine reasons for not alloting the shares within 180 days. They may accept the same and condone the delay.
with regards
Muralidharan
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