Incorporation - Foreign Fund

Neeta (Finance) (345 Points)

07 April 2010  

Hello members

Plz advice : A company incorporated in 2005 with foreign fund and shares allotted to NRI. The shares subscribed by NRI at the time of incorporation was alloted to NRI against the foreign inward remittance . and hence no Form 2 is being filed .

However the remittance being intimated to the RBI.

Please tell me is it required to intimate the inward remittance and share issue at the time of incorporation to RBI thru FIRC and FC-GPR respt at the time of incorporation also.

I thnk in 2005 , ders was no FC-GPR to intimate the RBI about the issue.Am i right on the issue ?