[CSMysore] FDI-Not filing of FC-GPR, not alloting in 180 days from FDI

[Prashanth Bhat]

Dear All,

 

I have following query. Kindly provide Your valuable suggestions to solve this:

 

 

A Private Company received FDI in 2008. FDI is not reported to RBI and FC-GPR not filed.

 

FDI under automatic Route.

 

Company has all FIRCs. Further, shares were also not allotted and the Balance Sheet show the FDI amount as share applicaiton money, till date.

My question is, can the company take all the above reportings actions/ steps  now and what will be the courses of action from the ROC/ RBI.

 

 

Thanks in advance....

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With Best Regards,

Prashanth Bhat
(9449127813)

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[R V SECKAR]

Hello,

First , make a condonation application to RBI . Then ,after condonation ,you may allot shares.

R.V.Seckar

[Vivek Hegde]

Dear Prashant

Now you can report inward remittance and money and file FCGPR. You request for condonation of delay in the letter specifically. RBI may treat the matter leniently and condone the delay. Or may ask for compounding in which case you have to get the contravention compounded with RBI and then proceed further.

Vivek 

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CS Vivek Hegde,B.com, ACS, CWA
Company Secretary in Practice
No. 405, 4th Block, 7th Cross
Koramangala, Bangalore-560034
Mob: 9019756940