Hi friends
Ive just joined a Co in which Fc-GPR has been filed for allottment of shares to NRI. Now a letter is received by us for submission of further documents. Can anyone tell me from where can i find that the advance received in foreign currency against the equity issued is on repatriable basis or on non-repatriable basis.
please help.
Thanks
Mani
The applicant would have mentioned it.
Dear Mani,
Investment by NRI is generally on non-repatriable basis under FDI poilcy.
Please check your comapny details if there is any approval from the RBI or FIPB.
Regards,
Dear Mani,
CAclubindia
