Compliances regarding Form FC-GPR
When a Foreign Body
Corporate/ Foreign Residents Invest in any Indian Company under Automatic Route
through Authorised Dealer. The following compliances are required to be
fulfilled:-
Investment's to be Reported to RBI in FC-GPR Form.
An Indian company receiving investment from outside India
for issuing shares / convertible debentures / preference shares under the FDI
Scheme, should report the details of the inflow to The Reserve Bank not later
than 30 days from the date of receipt.
Details to be reported are:
·
Name and address of foreign
investor/s
·
Date of receipt of funds in foreign
currency and its rupee equivalent
·
Name and address of the Authorized
Dealer through whom the funds have been received, and
·
Details of Government approval for
the investment, if any.
Part A of Form FC-GPR has to be duly filled up and signed by
the Authorised Signatory and submitted to the Authorised Dealer of the company,
who will forward it to the Reserve Bank.
While forwarding the Form, the Authorised Dealer will
enclose a KYC Report on the foreign investor. Along with Part A of FC-GPR, the
following documents has to be attached by the company:
A certificate from the Company
Secretary of the company certifying that
a.
all the requirements of the
Companies Act, 1956 have been complied with;
b.
terms and conditions of the Government
approval, if any, have been complied with;
c.
the company is eligible to issue
shares under these Regulations; and
d.
the company has all original certificates
issued by authorised dealers in India evidencing receipt of amount of
consideration;
A certificate from Statutory
Auditors or Chartered Accountant indicating the manner of arriving at the price
of the shares issued to the persons resident outside India.
Part-B of FC-GPR should be filed on an annual basis with the
Reserve Bank. Part-B of FC-GPR should be filed on an annual basis with the
Reserve Bank.
Filing has to be done in the month
of June every year, for all outstanding investment by way of FDI as well as
Portfolio / other investments and by way of re-invested earnings for the
previous April to March period.
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