FC-GPR re-submission query

[TANISHA YADAV]

Dear Members,

 

We have received submission request of following documents against the filed FC-GPR.

 

1.      Please provide fair value as per CA Valuation in 4D.

2.      Please provide FIRC with endorsement mentioning how the excess amount is used.

3.      Please provide debit authority letter for debiting bank charges.

 

Our Query:

1.      We have received only the amount which is subscribed by the subscriber to memorandum of Association and no extra money is received, so how can we provide the details of excess amount is used. [But we have given the information of post issue pattern of shareholding details in which we provide the Investor category (details of foreign national)  and in Resident (detail of Indian investor)]

2.      Who will endorse the FIRC, if there is no excess amount is received only the subscription money is received by Foreign national.

3.      What is fair valuation, are they talking about the DCF method ?

4.      Do we need to issue the debit authority letter to our AD or our bank and who will debit the charges AD or Our Bank?

 

Kindly provide your valuable suggestion.

[Devansh Garg]

FOR QUERY 2 AND 4, please find below my reply:

2) Bank will endorse the firc

4) yes, debit letter needs to be submitted by the company to the ad bank. format is attached.

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[TANISHA YADAV]

Thank you so much Mr. Devansh for your prompt reply.

We have not received the extra money from investor, can we ask the bank to endorse that there is no excess amount is received and only subscription money is received and that inflow is used only for allotment of Equity shares.

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[Devansh Garg]

yes, please told ad bank to write the statement that there is no excess money and also tell them to endorse the same.

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[Jayashree Chandrasekaran]

attach a letter signed by a CA to the effect that since this is subscription money there is no question of valuation

Jayashree

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C.JAYASHREE
PROPRIETOR
S.GANESH&ASSOCIATES
CHENNAI
98840 17120

[Devansh Garg]

in case of subscription also, ca certificate is required.

[R V Seckar]

CA can mention in his certificate that since this relates to the subscription to memorandum , the shares are issued at par and DCF method of valuation is not applicable.

R.V.Seckar

Mobile- 09848915177

Pl do visit my blogs :

http://www.rvseckarcompanylaw.blogspot.com/

http://rvseckarfema.blogspot.com/

http://rvseckarindianlaws.blogspot.com

 

http://rvseckarincometaxcaselaws.blogspot.in/

[Devansh Garg]

Yes. 

We have also follow the same policy in case of subscription shares issued by the company. 

Devansh 

[TANISHA YADAV]

On Wednesday, June 21, 2017 at 10:56:19 AM UTC+5:30, TANISHA YADAV wrote:

Good Morning Sir,

Thanks you all for your suggestions.

I have already attached the CA Certificate stating the fair value of share is Rs. 10/- per share, but got the re-submission query for same. 

Attached is the CA certificate for your information.

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C.JAYASHREE
PROPRIETOR
S.GANESH&ASSOCIATES
CHENNAI
98840 17120

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[R V Seckar]

U  can call the helpline and explain to them

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[AR Kumar]

Hello,

What could be the consequence in case there is resubmission of FCGPR and after 2 months of query it has been filed because of delay arrangement of Bank Certi/other Docs?

[Satheesh Rao Ponugoti]

You have to go for Compounding. RBI will issue MEMO. Even there is not submitted within time due eBiz portal problem they issuing MEMO for Compounding.

[AKY & CO. Company Secretary]

our Matter is still with AD. They raise repeated query which we have ans in past. 

On Wed, Jun 21, 2017 at 9:55 PM, Satheesh Rao Ponugoti <psra...@gmail.com> wrote:

You have to go for Compounding. RBI will issue MEMO. Even there is not submitted within time due eBiz portal problem they issuing MEMO for Compounding.

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[Swati Gupta]

hi,

you may re-submit FC-GPR and attach a delay letter. Write the reason of your delay in that letter. RBI generally grant relief in this matter.

[P.S.Rao & Co.,--P.Satheesh Rao]

Endorsement by Banker on reverse page of FIRC as per the attached.

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Kind Regards

For P.S.Rao & Co.,

Company Secretaries

Ponugoti Satheesh Rao
Company Secretary

Ph: +91 90522 33341

# 1-2-597/24/3, Beside Ambica Jewellers, 

Lower Tank Bund Flyover Road, Domalguda, 

Hyderabad, Telangana, PIN: 500029

Ph: +91 40 200 53341

[Bhakti Talikot]

Dear members,

I have been facing error in FCGPR uploading :

Authentication failed. Reference number already present.

Not able to submit. what is the remedy.

Bhakti

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Thanks & Regards

CS Bhakti Talikot

M/s Bhakti Talikot & Associates

PH. 9822594632
off. (0253) 2350607
Office: Flat No. 03, Kunwar Apartment,

Behind Reliance Petrol Pump,

Near Perfect Circle, Pipeline Road,
Nashik 422007

[Swetha.v Vanavara]

Dear Sir,

Even I faced the same issue.  Fill the fresh form and submit again there is no other go.