APR Filing

[Manish S]

Dear All,

We are filing an APR form for ODI investment as per the format shared by the bank, however, I am not able to understand what this line means, can anyone advice?

[Vineet Maheshwari]

Project Profile is the AD bank internal documents which they reported to the RBI at the time of initial investment in every ODI. You can ask from your AD bank and they will give you the project profile of your ODI. In the project profile, the proposed shareholding pattern is mentioned which the Indian co proposed to invest, this should always tally with the Financial commitment which you are now giving in the APR. It should always be  "YES", otherwise RBI will raise the query.

Thanks

Vineet Maheshwari

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[Manish S]

Dear Vineet,

Thanks for the reply this was helpful, further I had a doubt the bank provided a format with a name covering letter for submission of share certificate, this letter provides the proof that RI has made the investment and a foreign entity has issued shares against investment, however in my case IR Company has invested in foreign LLP since LLP does not issue shares and its only in the form contribution what documents we should  provide regarding proof of investment done by IR Company to foreign LLP

When I contacted the bank they told me to provide a declaration but not sure what declaration is required in this please can you share the draft declaration? 

Regards 

Manish Selvaraj

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[Manish S]

Dear Vineet,

Please could you confirm?

Regards

Manish Selvaraj

[Vineet Maheshwari]

Hi Manish,

As now at the time of Annual filing of APR bank also ask for a copy of share certificate in proof of investment made. But as in your case you have invested in LLP, make a covering letter with APR return and mentioned that RI has made investment in LLP hence no requirement of share certificate to be issued by LLP/Firm.

Thanks  

 

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[Pooja Shetty]

Dear All,

Can someone share a copy of the APR reporting , if there is a standard format, kindly share the same.

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Thanks & Regards,

CS Pooja Shetty

8879700499

[VINEET SHARMA]

Hi Vineet,

I have one doubt related to this ODI only.

We made investment in our Indonesian WOS.

As per Indonesian law post receiving ODI our Indoensian WOS is not supposed to issue share certificates.

Reason : When we incorporated this WOS there they made share certificates upto limit of 10 Billion IDR so when this limit is crossed then only they can issue fresh share certificates for further ODI otherwise not.

Now when we planning for 2nd ODI our AD bank here wants us to give them share certificates for first ODI we made before going for 2nd ODI.

Otherwise they are asking for declaration from CA there.

Can u plz comment on this.

Thanks

Vineet Sharma

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[Vineet Maheshwari]

Hi Vineet Sharma,

Yes, if this is as per the law of that country then for Indian AD banks you need to provide some documentary proof. Now this is on your AD bank that they require a CA  certificate of Indo. You can discuss with your AD Bank and can provide any declaration of directors of Indo. Only depends upon your AD Bank.

Thanks

Vineet

  

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[VINEET SHARMA]

Thank u vineet

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