Please suggest me in the following Matter:
1. Whether subscripttion of MOA by NRI will results into allotting the share to NRI?
2. Is there any requiremets under fema to comply with if the subscripttion money came through NRO account?
Thanks & Regards
Ravi
Dear Ravi,
Yes it amounts to allotment of securities to NRI and you have to file form FC-GPR and other documents including CS Certificate with regional RBI branch.
Thanks & Regards,
CS Durgesh Soni
N N V Satish & Co.,
Hyderabad
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