Form TS 1 & Form Fc trs

Dear Ms. Priya

Reporting  of transfer of shares between residents and non-redidents and vice versa is to be done in FORM FC-TRS. Form FC-TRS should be submitted to the AD Category-I bank, with in 60 days from the date of receipt of the amount of consideration. The onus of submission of the Form FC-TRS  within the given timeframe would be on the transferor/ transferee, resident in India.

Regard

Thank You very Much........What is the difference between FIRc and FC gpr?
 

Thanks a lot.

Regards'

Priya Sharma

But you have to intimate RBI withing 30 days of receipt of remittance and then within 180 days you have to allot shares and then you have 30 days to file FCGPR through AD (i.e. Bank). am i correct?

1) But What is the difference between form FC-TRS and form FC-GPR??

2) I also want to know that is there any upper limit at which unlisted shares can be issued by a resident to non-resident?? According to my search, the CCI guidelines just tell us about the minimunm price at which shares can be issued , but the maximum price is not mentioned anywhere!!!!!!!!

Does it mean that  the resident would be allowed to transfer the unlisted shares at whatever higher price to the non-resident

BAckground of mu query:

My client is an indian company set up in 2007. Its holding is in Mauritius.

In 2007 it issued unlisted equity shares to its holding at parvalue Rs.10

In 2008,it issued equity shares to its holding at a premium of Rs.50

In2009,it issued equity shares to its holding at a premium of Rs.1490!!

The iNDIAN COMPANY IS IN LOSSES AT PRESENT AND HENCE AS PER CCI GUIDELINES, ITS FAIR VALUE IS NIL!!

BUT SHOULDN,T THERE BE ANY MAXIMUM CEILING LIMIT TO THE PREMIUM??

PLEASE REPLY ASAP AT gupta.kanica1988 @ gmail.com

in  form Form FC-TRS point no  8 Foreign Investments in the company would mean total

01 No of shares hold by transferor ?

02 No of shares hold by Transferee ?

03 or no of shares hold by  foreign investor for which company transaction is taking palce

This is bit confusing as this declaration is being signed by either transferor / transferee  while terminology used is " Foreign Investments in the company "

What if FIRC can not be found in case resident transferring his shares to Person/ company outside India????? can he transfer his shares by filing FCTRS??? plzz help its urgent

For complete practical solution (from valuation of shares to be sold to non-resident or foreigner upto sharer transfer [FC TRS covered]) anyone is welcome to avail my services.

contact @ vkbajaj.co.in

Respected Experts,

The Form FC-TRS talks about AD bank. One question that comes here is the AD Bank should be of Indian Company whose shares are transferred or the transferor or the transferee???

Thanks in advance!!

Regards

No we cannot file FCTRS without proof of remmitance. We are facing the same problem in our company.

YOu can ask your AD for the certificate.