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Form TS 1 & Form Fc trs

Priya Sharma (Company Secretary & Student.MBA) (998 Points)

17 July 2009

Can anybody tell me which form has to be filed, in case of transfer of shares from person resident outside to a person in India.

And when is form Fc trs filed???

Please inform its very urgent...

Thanks

Priya Sharma

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11 Replies

Ajay Mishra (Company Secretary) (74332 Points)
Replied 17 July 2009

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

Attached File : 56 master circular foreign investment in india 2009.pdf downloaded: 1769 times

Priya Sharma (Company Secretary & Student.MBA) (998 Points)
Replied 18 July 2009

Originally posted by :Ajay Mishra
"	Regard	"

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

Ajay Mishra (Company Secretary) (74332 Points)
Replied 18 July 2009

Dear Ms. Priya

DIFFERENCES BETWEEN FIRC AND FC-GPR

1. Foreign Inward Remittance certificate (FIRC) is a certificate issued by bank (Authorised Dealer) who receive the amount of consideration against the security issued by Indian Company. FC-GPR is kind of report which is submitted to the RBI within time limit through Authorised Dealer.

2. FIRC is issued by Indian Bank to issuer company whereas FC-GPR is filed by issuing company to RBI.

3. FC-GPR part A is filed with in 30 days from the date of issue of shares, in case of FIRC there is no such time limit.

4. FC-GPR part B is filed on annual basis direct to the RBI, Mumbai, pertaining to all investments by way of direct or portfolio in the Indian Company company made during the previous year i.e. up to March, 31.

5. FIRC is one time certificate .

Regards

2 Like

Priya Sharma (Company Secretary & Student.MBA) (998 Points)
Replied 18 July 2009

Thanks a lot.

Regards'

Priya Sharma

SUSANTA (MANAGER ADMIN) (39 Points)
Replied 16 September 2009

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?

CA kanica gupta (Employed C.A.) (273 Points)
Replied 17 March 2010

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

Tarun Shah (15 Points)
Replied 09 August 2011

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 "

Ketan Ranade (Company Secretary) (64 Points)
Replied 09 September 2011

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

V K Bajaj (Accountant) (1540 Points)
Replied 05 August 2012

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

Jash Davda (Student) (22 Points)
Replied 05 June 2013

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