Article on Advance Reporting and FCGPR

[Ashish Baid]

Article on Advance Reporting and FCGPR :

Advance Reporting and FCGPR is required to be submitted to RBI thru Registered AD - 1 Category bank for all the FDI investment made by the foreign investor in Indian Company.

Advance Reporting needs to be filled from 30 days from the date when the foreign remittance received in the bank account.

FCGPR needs to be filled within 30 days from the date of allotment of shares.

Step by step procedure:
Advance Reporting :

Login to ebiz portal, register your corporate email I'd, after completing formality, register yourself as business user.

Download the Advance Reporting form ebiz portal, fill up all the mandatory details in the form.

Attachments :
1 - FIRC: FIRC will be issued by AD category bank
2 - KYC: KYC will be issued by investor's banker thru swift message which has to be generated in pdf format to be attached with the form.

FCGPR :
Download the relevant forms from the ebiz portal.
Fill up all the relevant details.

Attachment :
1- Valuation Report: to be obtained from Merchant banker registered with SEBI
2- FIRC: issued by AD bank
3- Compliance Certificate: to be issued by Practising Company Secretary.

Now the procedure of filing advance report and FCGPR have changed. Physical submission is no more entertained by RBI, same has to be uploaded on ebiz portal.

Small article on filing of Advance Reporting and FCGPR by me.

For regular updates on whatsapp, please do ping on 8097979445. 

[Kushal Cs]

Dear Sir,

Issue of shares to subscriber to MoA, does not require any valuation report. How is this issue being addressed?

Form the above mail, we understand that its a mandatory attachment.

Please clarify.

Regards

CS Kushal

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[Deepak Sadhu]

Valuation report is required even during incorporation.

Regards 

CS Deepak Sadhu 
DEEPAK SADHU & Co, 
Company Secretaries 
Bangalore 

M: 98860 - 96664 / 88843 - 11947 
W: www.deepaksadhu.com
E: dee...@deepaksadhu.com 
    csdeepa...@gmail.com

[Shipra Mishra]

as per my understanding valuation report is not required , RBI Circular attached for your kind reference

​

Regards

For Shipra Mishra & Associates 

CS Shipra Mishra 

Partner 

​​H.O. -N

6/456, IRC Village,

Bhubaneswar – 751015, Odisha

​B.O. - A4A, Upper Third Floor, 

Near Shani Mandir, 

Rampark, 

New Delhi - 110059​

Phone: 9437574885, 9810116090

Email: shipr...@gmail.com, Shipraand...@gmail.com

 

[ruchi sikka]

Reviving this thread...

Though Valuation Certificate is mandatory attachment with FC-GPR / SMF, however detailed valuation under DCF or any other internationally acceptable method is not required. We just need to refer Circular No. A.P. (DIR Series) Circular No. 36 dated September 26, 2012 and mention that shares have been issued at Face Value.

My question is in cases where we receive excess funds due to exchange fluctuations and instead of returning funds we simply issue shares at premium, do we need to do valuation in that case? Share capital in this is also MOA allotment. 

Or can we refer above circular and say although shares may be issued at face value, in our case allotment has been done at premium?

Appreciate your response.

Regards,

Ruchi

[GIRISH KUMAR]

This is old procedure.

It is no more

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[ruchi sikka]

In that case can you please share latest procedure. Thanks.