tag:blogger.com,1999:blog-29068689256600216672024-03-28T20:29:07.577-07:00COMMENTS ON FEMA (FOREIGN EXCHANGE AND MANAGEMENT ACTFEMA requires observation of its provisions in letter and spirit and if any contravention may land in penalties on the erring company and individuals. There are various conditions and stipulations in case of FDI , ODI , investment by individuals in foreign shares , purchase of assets in foreign countries , extending guarantees , availing ECBs , supplier's credit . In this column , I will discuss all intricacies and complications involving the interpretation of FEMA Act provisions in detail.R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.comBlogger326125tag:blogger.com,1999:blog-2906868925660021667.post-22781698977906555312019-06-29T00:37:00.001-07:002019-06-29T00:37:21.224-07:00NEW FLA FORM HAS BEEN INTRODUCED BY RBI UNDER FEMA. LATE DATE FOR FILING FLAIR FORM THROUGH WEB BASED SYSTEM TO RBI IS 15 JULY 2019.<br />
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<span style="font-size: x-large;">Dear Friends,</span></div>
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<span style="font-size: x-large;">NEW FLA FORM HAS BEEN INTRODUCED BY RBI UNDER FEMA. LATE
DATE FOR FILING FLAIR FORM THROUGH WEB BASED SYSTEM TO RBI IS 15 JULY 2019. </span></div>
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<span style="font-size: x-large;">For more details , please click the following link:</span></div>
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<span style="font-size: x-large;"><a href="https://docs.google.com/presentation/d/1GxJWpIwk-qrioqlsudWVva5PCE11qfQs3wl8TignjmU/edit?usp=sharing">https://docs.google.com/presentation/d/1GxJWpIwk-qrioqlsudWVva5PCE11qfQs3wl8TignjmU/edit?usp=sharing</a></span></div>
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<span style="font-size: x-large;">R V Seckar</span></div>
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<span style="font-size: x-large;">Practicing Company Secretary </span></div>
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<a href="mailto:rvsekar2007@gmail.com"><span style="font-size: x-large;">rvsekar2007@gmail.com</span></a></div>
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<span style="font-size: x-large;">07904719295</span></div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com2tag:blogger.com,1999:blog-2906868925660021667.post-15177707886171750222019-05-18T10:22:00.000-07:002019-05-18T10:22:23.568-07:00Process Of Raising Funds Through Non-Convertible Debentures by an Indian Company from NRIs<br />
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<b><span style="color: red;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;">Process Of Raising Funds Through
Non-Convertible Debentures by an Indian Company </span></span></b><b><span style="color: red; font-family: "Britannic Bold","sans-serif"; font-size: 28.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">from NRIs</span></b></h2>
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<b><span style="color: red; font-family: "Britannic Bold","sans-serif"; font-size: 28.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Britannic Bold", sans-serif;"><span style="font-size: x-large;"><br /></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Britannic Bold", sans-serif;"><span style="font-size: x-large;">Dear All,<o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Britannic Bold", sans-serif;"><span style="font-size: x-large;">In this video , I am going to explain the procedures
for obtaining loan by an Indian Company either on repatriation basis or non-repatriation
basis from NRIs<span style="mso-spacerun: yes;"> </span>for their own business
purposes.<o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Britannic Bold", sans-serif;"><span style="font-size: x-large;">For details , please click the following video link:<o:p></o:p></span></span></b></div>
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<o:p><span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;"><b><a href="https://youtu.be/SwFzw42v1ZU">https://youtu.be/SwFzw42v1ZU</a></b></span></o:p></div>
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<o:p><span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;"><b><br /></b></span></o:p></div>
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<b><span style="background: white; line-height: 115%;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;">R V Seckar<o:p></o:p></span></span></b></div>
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<span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;"><b><span style="background: white; line-height: 115%;">Practicing Company Secretary</span></b></span></div>
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</span></b><b><span style="line-height: 115%;"><a href="mailto:rvsekar2007@gmail.com">rvsekar2007@gmail.com</a><o:p></o:p></span></b></span></div>
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<b><span style="line-height: 115%;"><span style="font-family: Trebuchet MS, sans-serif; font-size: x-large;">7904719295</span><span style="font-family: Britannic Bold, sans-serif; font-size: 12pt;"><o:p></o:p></span></span></b></div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com3tag:blogger.com,1999:blog-2906868925660021667.post-26510994836043116532019-02-19T20:11:00.000-08:002019-02-19T20:11:28.018-08:00NOW INDIAN COMPANIES WHO ARE IN CIRP PROCESS CAN USE ECB TO REPAY THEIR RUPEE TERM LOAN.<br />
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<strong><span style="background: yellow; color: #475055;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif; font-size: x-large;">NOW INDIAN COMPANIES WHO ARE IN CIRP PROCESS CAN USE ECB
TO REPAY THEIR RUPEE TERM LOAN</span></span></strong><strong><span style="color: #475055;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif; font-size: x-large;">.</span><span style="font-family: Arial, sans-serif; font-size: 18pt;"><o:p></o:p></span></span></strong></h2>
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<span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 18.0pt;">Attention of Authorized Dealer Category-I
(AD Category-I) banks is invited to paragraph 1 of the Statement on
Developmental and Regulatory Policies of the Sixth Bi-monthly
Monetary Policy Statement for 2018-19 dated February 07, 2019.<o:p></o:p></span></div>
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<span style="background: yellow; color: #475055; font-family: "Arial","sans-serif"; font-size: 26.0pt; mso-highlight: yellow;">RELAXATION</span><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 26.0pt;"><o:p></o:p></span></div>
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<span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 18.0pt;">2.
In terms of paragraph 2.1.(viii) of the Annex to the <strong style="box-sizing: border-box;"><span style="font-family: "Arial","sans-serif";">A.P.
(DIR Series) Circular No. 17, dated January 16, 2019</span></strong> on “<strong style="box-sizing: border-box;"><span style="color: #337ab7; font-family: "Arial","sans-serif"; text-decoration: none; text-underline: none;">External Commercial
Borrowings (ECB)</span></strong> Policy – New ECB Framework”, <span style="background: yellow; mso-highlight: yellow;">ECB proceeds cannot be utilised
for repayment of domestic Rupee loans, except when the ECB is availed from a
Foreign Equity Holder</span> as defined in the aforesaid framework.<o:p></o:p></span></div>
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<span style="background: yellow; color: #475055; font-family: "Arial","sans-serif"; font-size: 26.0pt; mso-highlight: yellow;">NOW
, ECB CAN BE RAISED TO REPAY THE RUPEE TERM LOAN BY COMPANIES UNDER CIRP</span><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 26.0pt;"><o:p></o:p></span></div>
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<span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 18.0pt;">3.
On a review it has been decided, in consultation with the Government of India, <span style="background: yellow; mso-highlight: yellow;">to relax the end-use
restrictions for resolution applicants under the <strong style="box-sizing: border-box;"><span style="color: #337ab7; font-family: "Arial","sans-serif"; text-decoration: none; text-underline: none;">Corporate Insolvency
Resolution Process (CIRP)</span></strong> and allow them to raise ECBs
from the recognised lenders, except the branches/ overseas subsidiaries of
Indian banks, for repayment of Rupee term loans of the target company under the
approval route.</span> Accordingly the resolution applicants, who are otherwise
eligible borrowers, can forward such proposals to raise ECBs, through their AD
bank, to Foreign Exchange Department, Central Office, Mumbai of the Reserve
Bank for approval.<o:p></o:p></span></div>
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<span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 18.0pt;">4. All other provisions of the ECB policy
remain unchanged. AD Category – I banks should bring the contents of this
circular to the notice of their constituents and customers. The amended ECB
policy will come into force with immediate effect.<o:p></o:p></span></div>
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<span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 18.0pt;">5.
The directions contained in this circular have been issued under section 10(4)
and 11(2) of the <strong style="box-sizing: border-box;"><span style="color: #337ab7; font-family: "Arial","sans-serif"; text-decoration: none; text-underline: none;">Foreign Exchange
Management Act, 1999</span></strong> (42 of 1999) and are without
prejudice to permissions / approvals, if any, required under any other law.<o:p></o:p></span></div>
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<span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 18.0pt;">Yours faithfully<o:p></o:p></span></div>
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<span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 18.0pt;">Ajay Kumar Misra<br style="box-sizing: border-box;" />
Chief General Manager-in-Charge<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcWoDoj_ix0-XKAqvuvXf9gJd3Vf8-kO2eOkBD1c8ESyFAWDAMWK9Rvvgv0Zj1yTgTXTELd65eKkh4dxobwFbCRpmDRQOH1lmlWH1gxXe3ZleneghVM_qZGNl0UK-7sH9B-bhBsrPJeg/s1600/IRP+SERVICES+.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar , Practicing Company Secretary , 9848915177, rvsekar2007@gmail.com" border="0" data-original-height="720" data-original-width="960" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcWoDoj_ix0-XKAqvuvXf9gJd3Vf8-kO2eOkBD1c8ESyFAWDAMWK9Rvvgv0Zj1yTgTXTELd65eKkh4dxobwFbCRpmDRQOH1lmlWH1gxXe3ZleneghVM_qZGNl0UK-7sH9B-bhBsrPJeg/s1600/IRP+SERVICES+.jpg" title="R V Seckar , Practicing Company Secretary , 9848915177, rvsekar2007@gmail.com" /></a></div>
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<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com4tag:blogger.com,1999:blog-2906868925660021667.post-62152304288628832792019-02-02T19:09:00.000-08:002019-02-02T19:09:22.744-08:00REPORTING FDI ( FOREIGN DIRECT INVESTMENTS) TO RBI UNDER SMF AND FIRMS <br />
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<span style="background: yellow; color: red; font-family: "Arial Black","sans-serif"; font-size: 28.0pt; line-height: 115%; mso-highlight: yellow;">REPORTING OF FOREING
INVESTMENTS TO RBI UNDER SMF AND FIRMS</span><span style="color: red; font-family: "Arial Black","sans-serif"; font-size: 28.0pt; line-height: 115%;"><o:p></o:p></span></div>
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<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Reserve Bank of India has issued a Circular
dated June 7, 2018- introducing Single Master Form [SMF] with an objective of
integrating the existing reporting norms for various types of foreign
investment in India. Further, RBI vide notification dated August 31, 2018,
has directed AD Banks that all the Foreign Investment reporting would be made
on FIRMS RBI website in Single Master Form [SMF] w.e.f. September 1, 2018.</span><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<b><u><span style="color: teal; font-family: "Arial","sans-serif"; font-size: 24.0pt; mso-fareast-font-family: "Times New Roman";">INTRODUCTION:</span></u></b><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 24.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">As per Regulation 2(xviii) of the FEMA 20(R)
- ‘Foreign Investment’ means any investment made by a person resident
outside India on a repatriable basis in capital instruments of an Indian
company or to the capital of an LLP; <o:p></o:p></span></div>
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<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">As per Regulation 2(xvii) of the FEMA
20(R) “Foreign Direct Investment? (FDI) means investment through
capital instruments by a person resident outside India in an unlisted Indian
company, or in 10 percent or more of the post-issue paid-up equity capital on a
fully diluted basis of a listed Indian company;”<o:p></o:p></span></div>
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<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Single Master Form subsumed 9 reporting
Forms, such as FCGPR, FC-TRS, Form LLP-I, Form LLP-II, Form ESOP, Form CN, Form
ODI and Form InVi</span><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">.</span><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
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<td style="background: transparent; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">S.N0</span></b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-left: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Type of Form</span></b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-left: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Full Form</span></b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-left: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Applicability Form</span></b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">01</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form- FC-GPR</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Foreign Currency – Gross
Provisional Return</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Issue of capital instruments
by an Indian company to a person resident outside India</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">02</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form- FC-TRS</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Foreign Currency – Transfer
of Shares</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Transfer of capital
instruments between a person resident outside India and a person resident in
India</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">03</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form LLP-I</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Limited Liability
Partnerships-I</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Foreign direct investment in
an LLP through capital contribution and profit shares;</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">04</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form LLP-II</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Limited Liability
Partnerships-II</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Disinvestment or transfer of
capital contribution and profit shares in an LLP</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">05</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form ESOP</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Employees’ stock option
Scheme</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Issue of employee stock
options, sweat equity shares or shares against the exercise of employee stock
options by an Indian company to an employee resident outside India</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">06</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form CN</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Convertible Notes</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Issue or transfer of
convertible notes;</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">07</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form DRR</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Depository Receipts</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Issue or transfer of
depository receipts;</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">08</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form DI</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Downstream Investment</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Reporting of downstream
investment or indirect foreign investment in a company or an LLP; and</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 9; mso-yfti-lastrow: yes;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 43.4pt;" valign="top" width="72">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">09</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 75.4pt;" valign="top" width="126">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form InVi</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 167.85pt;" valign="top" width="280">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Investment Vehicle</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 196.3pt;" valign="top" width="327">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Reporting of investment by a
person resident outside India in an investment vehicle</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"> </span><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<b><u><span style="color: red; font-family: "Arial","sans-serif"; font-size: 24.0pt; mso-fareast-font-family: "Times New Roman";">Procedure to be followed for reporting of SMF</span></u></b><span style="color: red; font-family: "Arial","sans-serif"; font-size: 24.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<b><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 20.0pt; mso-fareast-font-family: "Times New Roman";">Step 1: Register as Entity User<span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;"><br />
<br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--></span></span></b><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 20.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Symbol; padding: 0in;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Creation of Entity Master is
the first step towards reporting under Single Master Form.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">The RBI portal for registration in Entity
Master can be accessed here</span><i><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">: </span></i><b><i><span style="color: blue; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";"><a href="https://firms.rbi.org.in/" target="_blank"><span style="color: blue; text-decoration: none; text-underline: none;">https://firms.rbi.org.in</span></a></span></i></b><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Symbol; padding: 0in;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">To register on Entity Master,
the reporting Indian entity must authorize a single person to act as Entity
User?, by issuing an authority letter in his favor.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Symbol; padding: 0in;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"> <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l0 level1 lfo1; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Symbol; padding: 0in;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Please refer to the format of
authority letter at the end of the User Manual. The Entity User will be solely
responsible for the information reported and shall be the point of contact for
RBI, w.r.t. foreign investment in the entity.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<b><u><span style="color: red; font-family: "Arial","sans-serif"; font-size: 24.0pt; mso-fareast-font-family: "Times New Roman";">Step 2: Register as Business User<o:p></o:p></span></u></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l2 level1 lfo2; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Symbol; padding: 0in;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">The Business User will register
itself on FIRMs and select the IFSC code of the bank which would approve the
eKYC and the reporting would be made in SMF. In case the IFSC details are
changed.e BU wishes to submit the reporting to another branch or another bank,
the entity being the same, he/she needs to repeat the registration process for
a Business user with the new IFSC code and obtain separate Login.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l2 level1 lfo2; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Symbol; padding: 0in;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"><o:p> </o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l1 level1 lfo3; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 9.5pt; letter-spacing: -.25pt; mso-fareast-font-family: Arial;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">
</span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Go to the FIRMS website at</span><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 14.0pt; letter-spacing: -.25pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"> </span><span style="border: none windowtext 1.0pt; color: blue; font-family: "Arial","sans-serif"; font-size: 14.0pt; letter-spacing: -.25pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"><a href="https://firms.rbi.org.in/" target="_blank"><span style="border: none; color: blue; mso-bidi-font-size: 11.0pt; text-decoration: none; text-underline: none;"><span style="border: none;">https://firms.rbi.org.in</span></span></a></span><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 9.5pt; letter-spacing: -.25pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: 14.4pt; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l1 level1 lfo3; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Arial; padding: 0in;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">At the Login box, click on the Registration
form for New Business User.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l1 level1 lfo3; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Arial; padding: 0in;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Fill up the details in the popped up
registration form for BU;<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; mso-line-height-alt: 14.4pt; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l1 level1 lfo3; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Arial; padding: 0in;"><span style="mso-list: Ignore;">4.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Click Submit button. In case any error is
displayed, rectify the same and click the Submit button.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; mso-line-height-alt: 14.4pt; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .15in; margin-right: 0in; margin-top: 0in; mso-line-height-alt: 14.4pt; mso-list: l1 level1 lfo3; tab-stops: list .5in; text-align: justify; text-indent: -.25in; vertical-align: bottom;">
<!--[if !supportLists]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: Arial; padding: 0in;"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">A Message “Record Saved Successfully” is
displayed at the top of the Login box.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in; mso-line-height-alt: 14.4pt; text-align: justify; vertical-align: bottom;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="background: white; border-collapse: collapse; border: none; mso-border-alt: solid #DDDDDD .5pt; mso-padding-alt: 0in 0in 0in 0in; mso-yfti-tbllook: 1184; width: 809px;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td colspan="5" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: solid #DDDDDD 1.0pt; mso-border-bottom-alt: three-d-engrave red 6.0pt; mso-border-right-alt: solid #DDDDDD .5pt; mso-border-top-alt: solid #DDDDDD .5pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 20.0pt; mso-fareast-font-family: "Times New Roman";">DOCUMENTS
REQUIRED TO BE ATTACHED TO THE SMF</span></b><span style="font-family: "Arial","sans-serif"; font-size: 20.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">S.NO</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Type
of Form</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">When
to File</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Attachments</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Remarks</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td rowspan="14" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">1</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="14" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">For
FCGPR</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="14" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Within 30 days from the date
of allotment</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. FIRC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. KYC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">c. Valuation Report</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">d. CS Certificate</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="6" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Merge into one file &
File size shall not exceed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">e. Board Resolution</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">f. Terms of CCPS &
Shareholding Pattern</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">g. Declaration Letter-By
authorized a representative of Indian Company</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">h. Reason for the delay- If
any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 10;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">i. Debit advice note or Swift
Message- In case of Excess amount received</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 11;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">In
case the inward remittance received from a different person [i.e from other
than Investor] following documents required to be attached
:</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="5" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 12;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(a) KYC reports of both the
remitter and the beneficial owner.</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 13;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(b) A no-objection
certificate (NOC) from the remitter for issuing capital instruments to the
beneficial owner mentioning their relationship.</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 14;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(c) A letter from the
beneficial owner explaining the reason for the remitter making remittance on
its behalf.</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 15;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(d) A copy of agreement/board
resolution from the investee company for issuing capital instruments to a
person other than from who the remittance has been received.</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 16;">
<td colspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 17;">
<td rowspan="10" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">2</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="10" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">For
FC-TRS</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="10" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Within sixty days of the
transfer of capital instruments or receipt/ remittance of funds[ whichever is
earlier.]</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. FIRC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 18;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. KYC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 19;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">c. Valuation Report</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 20;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">d. Buyer Consent Letter</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="7" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Merge into one file &
File size shall not exceed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 21;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">e. Seller Consent Letter</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 22;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">f. FEMA Declaration &
Other attachments</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 23;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">g. Declaration by Auth
Representative- i.e Director</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 24;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">h. Debit Authorization Letter
if any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 25;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">i. Declaration by the
non-resident transferor or transferee</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 26;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">j. Reason for Delay - If any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 27;">
<td colspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 28;">
<td rowspan="4" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">3</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="4" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Form
LLP-1</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="4" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">within 30 days from the date
of receipt of the amount of consideration</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. FIRC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 29;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. KYC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 30;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">c. Declaration Letter-By
authorized a representative of Indian Company</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 31;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">d. Other Relevant Attachments
if any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 32;">
<td colspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 33;">
<td rowspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">4</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="5" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Form
LLP-2</span></b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="5" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">within 60 days from the date
of receipt of funds</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. FIRC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 34;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. KYC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 35;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">c. Valuation Certificate</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 36;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">d. Declaration Letter-By
authorized a representative of Indian Company</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 37;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">e. Other Relevant Attachments
if any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 38;">
<td colspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 39;">
<td rowspan="4" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">5</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="4" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form CN</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="4" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">within 30 days of issue/
transfer</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. FIRC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 40;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. KYC</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 41;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">c. Declaration Letter-By
authorized a representative of Indian Company</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 42;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">d. Other Relevant Attachments
if any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 43;">
<td colspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 44;">
<td rowspan="3" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">6</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="3" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form ESOP</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="3" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">within 30 days from the date
of issue</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. CS Certificate</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 45;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. Declaration Letter-By
authorized a representative of Indian Company</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 46;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">c. Other Relevant Attachments
if any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 47;">
<td colspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 48;">
<td rowspan="2" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">7</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form DRR</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Within 30 days of close of
the issue/ program.</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. Declaration Letter-By
authorized a representative of Indian Company</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 49;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. Other Relevant Attachments
if any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 50;">
<td colspan="5" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 494.95pt;" valign="top" width="825">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 51;">
<td rowspan="2" style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 38.5pt;" valign="top" width="64">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">8</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 66.05pt;" valign="top" width="110">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Form DI</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 92.3pt;" valign="top" width="154">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Within 30 days from the date
of allotment of capital instruments.</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a. Declaration Letter-By
authorized a representative of Indian Company</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td rowspan="2" style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 100.3pt;" valign="top" width="167">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">File Size Allowed 1 MB</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 52; mso-yfti-lastrow: yes;">
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 184.7pt;" valign="top" width="308">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">b. Other Relevant Attachments
if any</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<b><u><span style="color: teal; font-family: "Arial","sans-serif"; font-size: 36.0pt; mso-fareast-font-family: "Times New Roman";">Delays in Reporting:</span></u></b><span style="color: #171717; font-family: "Arial","sans-serif"; font-size: 36.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">a) </span><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">The person/ entity responsible for filing the reports provided in
Part IV of this Master Directionshall be liable for payment of late submission
fee (LSF) for any delays in reporting.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(i) The LSF shall be applicable to the
transactions undertaken on or after November 7, 2017.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(ii) The payment of LSF is an option for
regularising reporting delays without undergoing the compounding procedure.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<b><u><span style="color: teal; font-family: "Arial","sans-serif"; font-size: 36.0pt; mso-fareast-font-family: "Times New Roman";">b) Calculation and Payment of LSF:<o:p></o:p></span></u></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(i) </span><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Where LSF is required to be paid, the reports shall be, wherever
necessary, conditionally acknowledged subject to payment of the LSF. The final
acknowledgment/ communication, wherever applicable, shall be given after the
late submission fee is paid by the applicant.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(ii) The amount of LSF will be as per the
following Matrix:<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="background: white; border-collapse: collapse; border: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-insideh: 6.0pt three-d-engrave red; mso-border-insidev: 6.0pt three-d-engrave red; mso-padding-alt: 0in 0in 0in 0in; mso-yfti-tbllook: 1184; width: 809px;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="background: transparent; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #353435; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Amount involved in reporting</span><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-left: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #353435; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Late Submission</span><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-left: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #353435; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Maximum amount of LSF</span><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(in Rs.)</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Fee (LSF) as % of</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Applicable</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">amount involved *</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Up to 10 million</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">0.05 percent</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Rs.1 million or 300% of the</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">amount involved, whichever</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">is lower</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">More than 10 million</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">0.15 percent</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Rs.10 million or 300% of the</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">amount involved, whichever</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 8; mso-yfti-lastrow: yes;">
<td style="background: transparent; border-top: none; border: groove red 6.0pt; mso-border-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.7in;" valign="top" width="324">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 128.4pt;" valign="top" width="214">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<br /></div>
</td>
<td style="background: transparent; border-bottom: groove red 6.0pt; border-left: none; border-right: groove red 6.0pt; border-top: none; mso-border-alt: three-d-engrave red 6.0pt; mso-border-left-alt: three-d-engrave red 6.0pt; mso-border-top-alt: three-d-engrave red 6.0pt; padding: 4.8pt 4.8pt 4.8pt 4.8pt; width: 2.55in;" valign="top" width="306">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">is lower</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 14.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"><br />
* </span><span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">The % of LSF will be doubled
every twelve months the floor (minimum applicable amount) for LSF will be Rs
100<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(iii) For calculating the LSF amount, the
period of contravention shall be considered proportionately {(approx. rounded
off to next higher month ÷ 12) X amount for 1 year}.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(iv) For the purpose of calculation, “months”
shall include Sundays/ Holidays<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(v) For the purpose of calculation, the period
shall begin from the day after the 30th day (from the date of receipt of funds/
allotment or transfer of shares) and end on the day preceding the day on which
the transaction report is received in the Reserve Bank The date of reporting to
the AD bank shall be deemed to be the date of reporting to the Reserve Bank
provided the prescribed documentation is complete in all respects.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(vi) In case the reporting form (whether in
physical or electronic form) is incomplete then the delay will continue till
such time the form is received completely in all respects.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">(vii) The applicant cannot claim a refund in
any manner for the amount already deposited as LSF. It will, therefore, be in
the applicant’s own interest to ensure compliance with the reporting norms and
timelines.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; text-align: justify; vertical-align: bottom;">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"><br />
The LSF may be paid by way of a demand draft drawn in favor of “Reserve Bank of
India” and payable at the Regional Office concerned.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;">Courtesy
: CSThukaram Jadhav <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"><br /></span></div>
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<span style="border: none windowtext 1.0pt; color: #171717; font-family: "Arial","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-border-alt: none windowtext 0in; mso-fareast-font-family: "Times New Roman"; padding: 0in;"><br /></span></div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com4tag:blogger.com,1999:blog-2906868925660021667.post-26692377186017928552018-09-01T20:57:00.000-07:002018-09-01T20:57:49.986-07:00RBI NOTIFICATION-ALL NEW FILINGS FOR FC-GPR , FC-TRS , LLP-I , LLP-II AND CN WILL BE IN SMF ONLY W.E.F SEPTEMBER 01, 2018. FC-GPR AND FC-TRS SHALL NOT BE FILED ON EBIZ<br />
<div class="MsoNormal" style="tab-stops: 99.0pt; text-align: justify;">
<span style="background: yellow; color: #0070c0; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 22.0pt; line-height: 115%; mso-highlight: yellow;">RBI NOTIFICATION-ALL NEW
FILINGS FOR FC-GPR , FC-TRS , LLP-I , LLP-II AND CN WILL BE IN SMF ONLY W.E.F
SEPTEMBER 01, 2018. FC-GPR AND FC-TRS SHALL NOT BE FILED ON EBIZ</span><span style="color: #0070c0; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 22.0pt; line-height: 115%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 99.0pt; text-align: justify;">
<span style="background: yellow; color: #0070c0; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 22.0pt; line-height: 115%; mso-highlight: yellow;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;">PENDING FCGPR/ FCTRS IN e-biz</span><span style="color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;">As
you aware , RBI with the objective of integrating extant reporting structure of
various types of foreign investment in India would introduce a Single Master
Form (SMF) which would be available online from September 1 ,2018.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;">Hitherafter FCGPR –FCTRS has
to be filed in Form SMF <o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;">Hitherafter
, all FEMA<span style="mso-spacerun: yes;"> </span>compliances and reporting to
be made through RBI website</span></b> <a href="https://firms.rbi.org.in/">https://firms.rbi.org.in</a> <b><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;">in
Form SMF</span></b><span style="font-family: "Calibri Light", sans-serif; font-size: 16pt; line-height: 115%;">.</span></div>
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<span style="font-family: "Calibri Light", sans-serif; font-size: 16pt; line-height: 115%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;">NO MORE AVAILABILITY OF e-biz
PORTAL FOR FILING <o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;"><br /></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;">At
present , FCGPR / FCTRS filing is carried through on e-biz portal. Due to
launching of SMF portal on 1 Septemeber ,2018 , e-biz portal would no longer be
available for filing.<span style="mso-spacerun: yes;"> </span>All the Banks are
advised to all filings pending for disposal in the e-biz portal at the earliest
on or before<span style="mso-spacerun: yes;"> </span>20 Septemebr 2018.<span style="mso-spacerun: yes;"> </span>All Banks should send a weekly report to this
effect <span style="mso-spacerun: yes;"> </span>has to be forwarded to Regional
Office , RBI , FED giving detaisl fo cases pending and cases cleared , for
monitoring.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;">ALL PENDING FILING CASES<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;">Further
, it is also observed that <span style="mso-spacerun: yes;"> </span>many cases are
pending at the company / entity level for resubmission with clarification or
additional documents. You are therefore , advised to immediately inform all
your clients who have received foreign investment to ensure that cases where
resubmission was to be done should be done within one week with complete
documents failing which it would not be possible for us to treat the FCGPR as
filed.<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;">To Provide Reasons for not
Filing <o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; color: red; font-family: "Berlin Sans FB Demi","sans-serif"; font-size: 18.0pt; line-height: 115%; mso-highlight: yellow;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;">Further,
where the entities have not been able to register for the Entity master, they
may do so from September 01, 2018. However, they may provide the reasons for
not registering within the time period along with the authority letter.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;">Ref
: RBI Circular FE.CO.FID/1282/10/02/035/2018-19 dated 31 August ,2018<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEib7RW5b0NOQjJ0D3-L4Ulo63rpwih3mZcGFCyK9wzdoDxS64_cAz1oXGSn_-6heL2aZUg2K7OEZgfKpd11T8KzEYJ4pBjpYIeO5SVz8yXP441mlHM1tP4WhhmIMf-A3ePs_OZhtM7dPQ/s1600/FEMA+2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar 09849015177 rvsekar2007@gmail.com, " border="0" data-original-height="720" data-original-width="1280" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEib7RW5b0NOQjJ0D3-L4Ulo63rpwih3mZcGFCyK9wzdoDxS64_cAz1oXGSn_-6heL2aZUg2K7OEZgfKpd11T8KzEYJ4pBjpYIeO5SVz8yXP441mlHM1tP4WhhmIMf-A3ePs_OZhtM7dPQ/s1600/FEMA+2.jpg" title="R V Seckar 09849015177 rvsekar2007@gmail.com, " /></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 115%;"><br /></span></b></div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com10tag:blogger.com,1999:blog-2906868925660021667.post-18108085206911628022018-06-28T00:27:00.000-07:002018-06-28T06:50:00.237-07:00Foreign investment in India - Reporting in Single Master Form <br />
<br />
<span style="font-size: x-large;"><br /></span>
<br />
<div class="MsoNormal">
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><span style="font-size: x-large;">Dear All ,<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><span style="font-size: x-large;"><br /></span></span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><span style="font-size: x-large;">Foreign investment in
India - Reporting in Single Master Form<o:p></o:p></span></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><span style="font-size: x-large;">For details click the
following:<o:p></o:p></span></span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><span style="font-size: x-large;"><a href="https://drive.google.com/file/d/1uX_RtDUJcEfRUsM2WPP1i3gE5OVj5Uei/view?usp=sharing">https://drive.google.com/file/d/1uX_RtDUJcEfRUsM2WPP1i3gE5OVj5Uei/view?usp=sharing</a><o:p></o:p></span></span><br />
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><br /></span>
<span style="color: #4c4c4c; font-family: arial, sans-serif; font-size: large;"><span style="background-color: white;">The Interface for uploading the Single Master Form is available in the following link:</span></span><br />
<br /></div>
<div class="MsoNormal">
<a href="https://firms.rbi.org.in/"><span style="font-size: x-large;">https://firms.rbi.org.in</span></a><br />
<span style="font-size: large;"><br /></span></div>
<div class="MsoNormal">
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><span style="font-size: x-large;">Regards <o:p></o:p></span></span></div>
<br />
<div class="MsoNormal">
<span lang="EN-GB" style="background: white; color: #4c4c4c; font-family: "arial" , "sans-serif";"><span style="font-size: x-large;">R V Seckar<o:p></o:p></span></span></div>
<br />
<br />
<br />
<br />
<br />
<a href="https://drive.google.com/file/d/1uX_RtDUJcEfRUsM2WPP1i3gE5OVj5Uei/view?usp=sharing">https://drive.google.com/file/d/1uX_RtDUJcEfRUsM2WPP1i3gE5OVj5Uei/view?usp=sharing</a>R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com3tag:blogger.com,1999:blog-2906868925660021667.post-23479191110746690262018-06-25T21:36:00.001-07:002018-06-25T21:36:51.721-07:00DEADLINE REMINDER - LAST DATE FOR FILING OF FLA RETURN UNDER FEMA FALLS ON 15 JULY 2018<span style="background-color: yellow; color: red; font-size: x-large;">DEADLINE REMINDER - LAST DATE FOR FILING OF FLA RETURN UNDER FEMA FALLS ON 15 JULY 2018</span><br />
<span style="background-color: yellow; color: red; font-size: x-large;"><br /></span>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinWEIaAcG_kPIpcIGOntNowKJ1-MZl-WTZ0_CGA_zlJzYpUIlRN_LKWJS_fFe70oGh0U5a4pO6_iw81QjlNVV4oZbHGb3xfNpJvLBlbN2aKzAJkbewqlFF-7FTwJsUJsPl2UBwgJ9EYQ/s1600/FLA+21.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1600" data-original-width="1237" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinWEIaAcG_kPIpcIGOntNowKJ1-MZl-WTZ0_CGA_zlJzYpUIlRN_LKWJS_fFe70oGh0U5a4pO6_iw81QjlNVV4oZbHGb3xfNpJvLBlbN2aKzAJkbewqlFF-7FTwJsUJsPl2UBwgJ9EYQ/s1600/FLA+21.jpg" /></a></div>
<span style="background-color: yellow; color: red; font-size: x-large;"><br /></span>R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-70886111053474087652018-06-08T04:11:00.002-07:002018-06-08T04:11:30.014-07:00RBI INTRODUCES CHANGES IN THE ECB MONTHLY REPORTING THROUGH ECB 2 RETURN<br />
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-size: 28.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">RBI INTRODUCES CHANGES IN THE ECB<span style="mso-bidi-font-weight: bold;"> MONTHLY REPORTING THROUGH ECB 2 RETURN<o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-size: 28.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><span style="mso-bidi-font-weight: bold;"><br /></span></span></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBpnByHgEOiQCOWle7z2k7O09C2jhQtDIn28NXe424aJejxR8_pKk56I4HyzLJIvWRJWj1-eYiwn6CvnWhp3vecKWyfkMrlgA0_ABJXIsdsbhnRKgEVWcSYWIikr1NldcP1cMvs8uWkw/s1600/images+%25284%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar practising company secretary , 09848915177 rvsekar2007@gmail, " border="0" data-original-height="162" data-original-width="311" height="333" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBpnByHgEOiQCOWle7z2k7O09C2jhQtDIn28NXe424aJejxR8_pKk56I4HyzLJIvWRJWj1-eYiwn6CvnWhp3vecKWyfkMrlgA0_ABJXIsdsbhnRKgEVWcSYWIikr1NldcP1cMvs8uWkw/s640/images+%25284%2529.jpg" title="R V Seckar practising company secretary , 09848915177 rvsekar2007@gmail, " width="640" /></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-size: 28.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><span style="mso-bidi-font-weight: bold;"><br /></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-size: 28.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><span style="mso-bidi-font-weight: bold;"><br /></span></span></b></div>
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<b><span style="color: red; font-size: 18.0pt; line-height: 107%; mso-bidi-font-size: 14.0pt;">CHANGES IN PART E.1<span style="mso-spacerun: yes;"> </span>and E.2 OF ECB 2 MONTHLY RETURN</span></b></div>
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<b><span style="color: red; font-size: 18.0pt; line-height: 107%; mso-bidi-font-size: 14.0pt;"><br /></span></b></div>
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<span style="font-size: large;"><b><span style="color: red; line-height: 107%;"><o:p></o:p></span></b><b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;">It has been decided to
capture the details of the hedges for ECBs through a simplified format of ECB 2
Return. Part E of the Return, accordingly, is modified so as to include only
standard information on hedged/unhedged ECB exposure (<a href="http://rbidocs.rbi.org.in/rdocs/content/pdfs/APDIR29ANN070618_AN.pdf" target="_blank"><span style="color: windowtext;">Annex</span></a>). <o:p></o:p></span></b></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;">Details of hedging in
Part E.1 of the Return and foreign exchange earnings and expenditure in Part
E.2 of the Return should be furnished in additive format. <o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;">Further, for reporting
in respect of natural hedge, provisions contained in paragraph 2 (iii) of </span><a href="https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10682&Mode=0" style="font-size: 14pt;" target="_blank">A.P. (DIR Series) Circular No. 15 dated November 07, 2016</a><span style="font-size: large;"><a href="https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10682&Mode=0" target="_blank"> </a>should
be followed.</span><span style="font-size: 14pt;"><o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: 14pt;"><br /></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: 14pt;"><br /></span></span></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-v1WRDO9Hm3RIF8o-1ruOFocSVQKta4EZULSS77RmF43HChC-7XNPOGef1Z_tMitGaaFj2l4fVVJAmf0beVAqnjNzle28VvYNYMpNmmXlpfvoAtmIEPAHj5FS6IRvtHMrQ59FHiWydw/s1600/FLA+Return.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar practising company secretary , 09848915177 rvsekar2007@gmail, " border="0" data-original-height="720" data-original-width="1280" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-v1WRDO9Hm3RIF8o-1ruOFocSVQKta4EZULSS77RmF43HChC-7XNPOGef1Z_tMitGaaFj2l4fVVJAmf0beVAqnjNzle28VvYNYMpNmmXlpfvoAtmIEPAHj5FS6IRvtHMrQ59FHiWydw/s640/FLA+Return.jpg" title="R V Seckar practising company secretary , 09848915177 rvsekar2007@gmail, " width="640" /></a></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;"><br /></span></b></div>
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<b><span style="color: red; font-size: 18.0pt; line-height: 107%; mso-bidi-font-size: 14.0pt;">REVISED FORM ECB-2 WILL
BE WITH EFFECT FROM END OF JUNE 2018<o:p></o:p></span></b></div>
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<b><span style="color: red; line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;"> Revised monthly reporting format of ECB 2
Return would be applicable from month-end June 2018. </span><span style="font-size: 14pt;"><o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;"><br /></span></b></div>
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<b><span style="color: red; font-size: 18.0pt; line-height: 107%; mso-bidi-font-size: 14.0pt;">Any Lapse will be
considered as a Contravention under FEMA </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;"><o:p></o:p></span></b></div>
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<b><span style="color: red; font-size: 18.0pt; line-height: 107%; mso-bidi-font-size: 14.0pt;"><br /></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;">It is reiterated that
any lapse at the time of reporting through this return and / or failure to
adhere to the time line of its submission and / or any lapse at the time of
reporting through Form 83 is a contravention of the provision of Foreign
Exchange Management Act, 1999 (42 of 1999).</span><span style="font-size: 14pt;"><o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
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<span style="color: red; font-family: "Eras Bold ITC", sans-serif;"><span style="font-size: large;"><b>PROVIDING PRACTICING COMPANY SECRETARIAL SERVICES</b></span><span style="font-size: 22pt;"><o:p></o:p></span></span></div>
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<span style="color: red; font-family: "Eras Bold ITC","sans-serif"; font-size: 22.0pt;"><br /></span></div>
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<span style="font-family: "Eras Bold ITC","sans-serif"; font-size: 14.0pt;">For
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<span style="font-family: "Eras Bold ITC","sans-serif"; font-size: 20.0pt;"><a href="https://www.linkedin.com/company/r-v-seckar-co-practicing-company-secretary/">https://www.linkedin.com/company/r-v-seckar-co-practicing-company-secretary/</a><span style="color: red;"><o:p></o:p></span></span></div>
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<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-43156437129845116332018-06-07T20:17:00.002-07:002018-06-28T17:10:53.923-07:00RBI INTRODUCES SINGLE MASTER FORM (SMF) FOR REPORTING Foreign investment in India(FDIs) .<br />
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-size: 24.0pt; line-height: 107%;">RBI
INTRODUCES SINGLE MASTER FORM (SMF)<span style="mso-spacerun: yes;"> </span>FOR
REPORTING Foreign investment in India(FDIs) .<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-size: 24.0pt; line-height: 107%;">The Main
Objective of SMF FORM<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;">With an objective of
integrating the extant reporting structures of various types of foreign
investment in India, RBI will introduce a Single Master Form (SMF). <o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="background: yellow; font-size: 14.0pt; line-height: 107%; mso-highlight: yellow;">The SMF would be filed online.</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;"><o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-size: 24.0pt; line-height: 107%;">SMF for Direct FDI and through
Investment Vehicle Route <o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;">SMF would provide a
facility for reporting total foreign investment in an Indian entity {as defined
in Foreign Exchange Management (Transfer or issue of security by a person
resident outside India) Regulations 2017, dated November 7, 2017}, as also
investment by persons resident outside India in an Investment Vehicle.<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;">Prior to
implementation, RBI will provide an interface to Indian entities to input data
on foreign investment in specified format between June 28, 2018 to July 12,
2018. <o:p></o:p></span></b></div>
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THE FOLLOWING LINK:<o:p></o:p></span></b></div>
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<b><span style="font-size: 14.0pt; line-height: 107%;"><a href="https://www.linkedin.com/company/r-v-seckar-co-practicing-company-secretary/">https://www.linkedin.com/company/r-v-seckar-co-practicing-company-secretary/</a><o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; line-height: 107%;"><span style="font-size: x-large;">NON-COMPLAINT INDIAN
COMPANIES </span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; line-height: 107%;"><span style="font-size: x-large;">CANNOT RECEIVE FDIs </span><span style="font-size: 18pt;"><o:p></o:p></span></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="background: yellow; font-size: 14.0pt; line-height: 107%; mso-highlight: yellow;">Entities not complying with this prerequisite will not be
able to receive foreign investment and will be non-compliant with FEMA,1999.</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;"><o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-size: 14.0pt; line-height: 107%;">The entities may be in
readiness with the requirements to be provided in the Entity Master at Annex 1.
The format of the SMF is at Annex 2. The final form, when hosted, will be
available in the Master Direction-Reporting under FEMA, 1999.<o:p></o:p></span></b><br />
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<b style="mso-bidi-font-weight: normal;"><span style="background-color: white; color: red; font-size: large; line-height: 107%;">ENTITY MASTER DATA -Annex I</span></b></div>
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<span style="font-size: 18.6667px;"><b>1. All Indian Entities needs to provide till date all the foreign investments received by them which will be called Entity Master Data and the format is provided in Annex 1 of said notification.</b></span><br />
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<b><span style="color: red; font-size: large;"><br /></span></b></div>
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<b><span style="color: red; font-size: large;">Subsequent Investments in Annex 2</span></b></div>
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<span style="font-size: 18.6667px;"><b><span style="line-height: 107%;"></span></b></span><br />
<span style="font-size: 18.6667px;"><b>2. For any subsequent foreign investments, an Integrated reporting structure of various types of foreign investment introduced which will be called Single Master Form (SMF). The format of the SMF is at Annex 2 of said notification.</b></span><br />
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<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com2tag:blogger.com,1999:blog-2906868925660021667.post-60659949247500359362018-06-04T20:31:00.000-07:002018-06-04T20:32:03.872-07:00Important Amendments in Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2018<br />
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 26.0pt; line-height: 107%;">Important
Amendments in Foreign Exchange Management (Transfer or Issue of Security by a
Person Resident outside India) (Amendment) Regulations, 2018<o:p></o:p></span></b></div>
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<b><span style="color: black; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">The following are some of the important amendments made
by RBI recently.<o:p></o:p></span></b></div>
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<span style="color: red; font-family: "arial rounded mt bold" , sans-serif; font-size: 16pt; line-height: 107%;"><b>1.Prior
Approval is needed for FDIs in investing companies investing in NBFCs not
registered with the Reserve Bank and in core investment companies <o:p></o:p></b></span></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"> </span></b><b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Foreign Investment in
investing companies not registered as Non-Banking Financial Companies with the
Reserve Bank and in core investment companies (CICs), both engaged in the
activity of investing in the capital of other Indian entities, will require
prior Government approval.<o:p></o:p></span></b></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">2.100% Automatic Route for FDIs in NBFCs registered with RBI<o:p></o:p></span></b></div>
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Foreign
investment in investing companies registered as Non-Banking Financial Companies
(NBFCs) with the Reserve Bank, will be under 100% automatic route.<o:p></o:p></span></b></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">3.Joint Audit in case Foreign Investor Prefers <o:p></o:p></span></b></div>
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Wherever
the person resident outside India who has made foreign investment specifies a particular
auditor/ audit firm having international network for the audit of the Indian
investee company, then audit of such investee company shall be carried out as
joint audit wherein one of the auditors is not part of the same network.”<o:p></o:p></span></b></div>
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<b><span style="font-size: 22.0pt;"><span style="background-color: white;"><span style="color: red;">OFFERING FOLLOWING SERVICES AS PRACTICING COMPANY SECRETARY</span></span><o:p></o:p></span></b></div>
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For details , Please click the following link:</span></b><span style="font-size: 22.0pt;"><br />
<b><br />
<a href="https://rvseckarcompanylaw.blogspot.com/2018/04/corporate-compliance-services-r-v.html">https://rvseckarcompanylaw.blogspot.com/2018/04/corporate-compliance-services-r-v.html</a></b><o:p></o:p></span></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">4.FDIs
in Airlines is now Restricted to 49% (other than NRIs) under Automatic route<o:p></o:p></span></b></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div align="center">
<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; border: none; mso-border-alt: three-d-emboss red 6.0pt; mso-border-insideh: 6.0pt three-d-emboss red; mso-border-insidev: 6.0pt three-d-emboss red; mso-padding-alt: 0cm 0cm 0cm 0cm; mso-yfti-tbllook: 1184; width: 70%px;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;">
<td style="background: yellow; border: ridge red 6.0pt; mso-border-alt: three-d-emboss red 6.0pt; padding: 0cm 2.25pt 0cm 2.25pt; width: 41.06%;" valign="top" width="41%"><div class="MsoNormal" style="tab-stops: 342.3pt;">
<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br />
(a) (i) Scheduled Air Transport Service/ Domestic Scheduled Passenger Airline<br />
(ii) Regional Air Transport Service<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-left: none; border: ridge red 6.0pt; mso-border-alt: three-d-emboss red 6.0pt; mso-border-left-alt: three-d-emboss red 6.0pt; padding: 0cm 2.25pt 0cm 2.25pt; width: 20.0%;" valign="top" width="20%"><div class="MsoNormal" style="tab-stops: 342.3pt;">
<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">100%<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-left: none; border: ridge red 6.0pt; mso-border-alt: three-d-emboss red 6.0pt; mso-border-left-alt: three-d-emboss red 6.0pt; padding: 0cm 2.25pt 0cm 2.25pt; width: 38.94%;" valign="top" width="38%"><div class="MsoNormal" style="tab-stops: 342.3pt;">
<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Automatic
up to 49%<br />
Government route beyond 49%<br />
(Automatic up to 100% for NRIs and OCIs)<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
</div>
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<br /></div>
<div class="MsoNormal" style="tab-stops: 342.3pt;">
<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">5.Foreign
investment in M/s Air India Limited shall be subject to the following
conditions:<o:p></o:p></span></b></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; mso-text-indent-alt: -18.0pt; tab-stops: list 36.0pt left 342.3pt; text-align: justify; text-indent: -36.0pt;">
<!--[if !supportLists]--><b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";">
</span>i.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Foreign investment in
M/s Air India Ltd., including that of foreign airline(s), shall not exceed 49%
either directly or indirectly.<o:p></o:p></span></b></div>
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; mso-text-indent-alt: -18.0pt; tab-stops: list 36.0pt left 342.3pt; text-align: justify; text-indent: -36.0pt;">
<!--[if !supportLists]--><b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><span style="mso-list: Ignore;"><span style="font: 7.0pt "Times New Roman";"> </span>ii.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Substantial ownership
and effective control of M/s Air India Ltd. shall continue to be vested in
Indian Nationals.”<o:p></o:p></span></b></div>
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">6.100% FDIs are Allowed in Real Estate Broking Business <o:p></o:p></span></b></div>
<div class="MsoNormal" style="tab-stops: 342.3pt; text-align: justify;">
<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Real
estate broking services shall be excluded from the definition of “real estate
business” and 100% foreign investment is allowed in real estate broking
services under automatic route.”<o:p></o:p></span></b></div>
<div class="MsoNormal" style="tab-stops: 342.3pt; text-align: justify;">
<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
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<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="tab-stops: 342.3pt; text-align: justify;">
<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="tab-stops: 342.3pt; text-align: center;">
<b><sub><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 36.0pt; line-height: 107%;">7.FDI in Single Brand Retailing<o:p></o:p></span></sub></b></div>
<div align="center" class="MsoNormal" style="tab-stops: 342.3pt; text-align: center;">
<b><sub><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 36.0pt; line-height: 107%;"><br /></span></sub></b></div>
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; tab-stops: 342.3pt; text-align: justify;">
<b><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">“(i)
Single brand retail trading entity shall be permitted to set off its
incremental sourcing of goods from India for global operations during initial 5
years, beginning 1st April of the year of the opening of first store, against
the mandatory sourcing requirement of 30% of purchases from India. For this
purpose, incremental sourcing shall mean the increase in terms of value of such
global sourcing from India for that single brand (in INR terms) in a particular
financial year from India over the preceding financial year, by the
non-resident entities undertaking single brand retail trading, either directly
or through their group companies. After completion of this 5 years period, the
SBRT entity shall be required to meet the 30% sourcing norms directly towards
its India’s operation, on an annual basis.”<o:p></o:p></span></b></div>
</div>
<div align="center" class="MsoNormal" style="tab-stops: 261.8pt; text-align: center;">
<b><sub><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 36.0pt; line-height: 107%;">8.Definition of Sourcing Norms<o:p></o:p></span></sub></b></div>
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; tab-stops: 261.8pt; text-align: justify;">
<span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">“Sourcing
norms will not be applicable up to three years from commencement of the
business i.e. opening of the first store for entities undertaking single brand
retail trading of products having 'state-of-art' and 'cutting-edge' technology
and where local sourcing is not possible. Thereafter, condition mentioned at
15.3.1(e) above will be applicable. A Committee under the Chairmanship of
Secretary, DIPP, with representatives from NITI Aayog, concerned Administrative
Ministry and independent technical expert(s) on the subject will examine the
claim of applicants on the issue of the products being in the nature of
‘state-of-art’ and ‘cutting-edge’ technology where local sourcing is not possible
and give recommendations for such relaxation.”<o:p></o:p></span></div>
</div>
<div class="MsoNormal" style="tab-stops: 159.45pt;">
<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="tab-stops: 159.45pt;">
<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">9.Definition
of Medical Devises under Pharmaceuticals<o:p></o:p></span></b></div>
<div class="MsoNormal" style="tab-stops: 159.45pt;">
<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; tab-stops: 159.45pt; text-align: justify;">
<span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">“in-vitro
diagnostic device which is a reagent, reagent product, calibrator, control
material, kit, instrument, apparatus, equipment or system, whether used alone
or in combination thereof intended to be used for examination and providing
information for medical or diagnostic purposes by means of examination of
specimens derived from the human bodies or animals.”<o:p></o:p></span></div>
</div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="tab-stops: 117.45pt; text-align: justify;">
<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">10.Issue of Shares for the materials imported or pre-operative
expenses incurred is under Automatic Route <o:p></o:p></span></b></div>
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<b><span style="color: red; font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; tab-stops: 117.45pt; text-align: justify;">
<span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">(4)
An Indian company may issue, subject to compliance with the conditions
prescribed by the Central Government and/or the Reserve Bank from time to time,
capital instruments to a person resident outside India, if the Indian investee
company is engaged in an automatic route sector, against:<o:p></o:p></span></div>
</div>
<div style="border: solid windowtext 1.0pt; margin-left: 18.0pt; margin-right: 0cm; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; margin-left: 18.0pt; mso-border-alt: solid windowtext .5pt; mso-list: l1 level1 lfo2; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; tab-stops: list 36.0pt left 117.45pt; text-align: justify; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><span style="mso-list: Ignore;">a.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Swap
of capital instruments; or<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><span style="mso-list: Ignore;">b.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Import
of capital goods/ machinery/ equipment (excluding second-hand machinery); or<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><span style="mso-list: Ignore;">c.<span style="font: 7.0pt "Times New Roman";"> </span></span></span><!--[endif]--><span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Pre-operative/
pre-incorporation expenses (including payments of rent etc.).<o:p></o:p></span></div>
</div>
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
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<span style="font-family: "arial rounded mt bold" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Provided
Government approval shall be obtained if the Indian investee company is engaged
in a sector under Government route. The applications for approval shall be made
in the manner prescribed by the Central Government from time to time.<o:p></o:p></span></div>
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<br /></div>
</div>
<br />
<br />
For full details , Please click the following link:<br />
<br />
<span style="font-size: x-large;"><a href="https://rbi.org.in/scripts/BS_FemaNotifications.aspx?Id=11240">https://rbi.org.in/scripts/BS_FemaNotifications.aspx?Id=11240</a></span><br />
<br />
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-47794651125640565482018-05-24T20:02:00.002-07:002018-05-24T20:02:20.550-07:00Filing of Annual Return on Foreign Liabilities and Assets (FLA return) under FEMA 1999 Due date for filing of FLA Return with RBI is falling on 15th July 2018.<br />
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Bookman Old Style","serif"; font-size: 26.0pt; line-height: 107%;">Filing of Annual
Return on Foreign Liabilities and Assets (FLA return) under FEMA 1999<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Bookman Old Style","serif"; font-size: 26.0pt; line-height: 107%;"><br /></span></b></div>
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<b><span style="color: #00b050; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">Due
date for filing of FLA Return with RBI is falling on 15th July 2018.<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #00b050; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><br /></span></b></div>
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<br /></div>
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<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">Who
has to File ?<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="background: yellow; font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;">Indian resident companies which have
received FDI and/ or made overseas investment (ODI)</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"> in any of the previous year(s),
including current year by July 15 every year. <o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">Whether
Non Filing of FLA Return is an Offence under FEMA?<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;">Yes.</span></b><b style="mso-bidi-font-weight: normal;"><span style="color: black; font-family: "Arial","sans-serif"; font-size: 10.0pt; line-height: 107%;"> </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;">Non-filing of the return before
due date will be treated as a violation of FEMA and penalty clause may be
invoked for violation of FEMA.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">Whether
Company has to go for Compounding?<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;">Yes.
If FLA Return is not filed within 15<sup>th</sup> July 2018 , Company has to go
for compounding and has to pay penalty.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
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<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">Whether
FLA is to be filed even when Audited Accounts are not ready?<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="background: yellow; font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;">Yes. In that case , an Indian Company which has FDI or
and ODI has to prepare the FLA on unaudited Financials of the company.</span><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="background: yellow; font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">If
a company did not receive FDI or made</span></b><b><span style="font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"> <span style="color: #c00000;">overseas
investment in any of the previous year(s) including the current year, do we
need to submit the FLA Return?</span><o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><span style="color: #c00000;"><br /></span></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;">If
the Indian company does not have any outstanding investment in respect of
inward and outward FDI as on end-March of reporting year, the company need not
submit the FLA Return.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
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<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">If
the company has not received any inward FDI / made overseas investment in the
latest year, do they need to submit the FLA Return?<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #c00000; font-size: 24.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"> <b style="mso-bidi-font-weight: normal;">If the company has not ‘received any fresh
FDI and/or ODI (overseas direct investment)’ in the latest year <span style="background: yellow; mso-highlight: yellow;">but the company has outstanding
FDI and/or ODI, then that company is</span> required to submit the FLA Return
every year by July 15.<o:p></o:p></b></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; line-height: 107%;"><b style="mso-bidi-font-weight: normal;"><br /></b></span></div>
<div style="background: #FFC000; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="background: #FFC000; border: none; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; text-align: justify;">
<b><span style="color: #444444; font-family: Algerian; font-size: 28.0pt; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">One Full
day seminar on FEMA at Mumbai on June 2 ,2018</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #FFC000; border: none; line-height: normal; margin-bottom: 12.0pt; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; text-align: justify;">
<b><span style="color: #444444; font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Please attend one Full day seminar on
FEMA at Mumbai on June 2 ,2018 as only limited seats are available. Please rush
your request immediately.</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: #FFC000; border: none; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; text-align: justify;">
<b><span style="color: #444444; font-family: "Calibri Light","sans-serif"; font-size: 16.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">For more details , please click the
following link:</span></b><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; border: none; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; border: none; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; text-align: justify;">
<b><span style="background: white; color: blue; font-family: "Calibri Light","sans-serif"; font-size: 18.0pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><a href="http://rvseckarfema.blogspot.in/2018/05/one-full-day-seminar-on-fema-at-mumbai.html">http://rvseckarfema.blogspot.in/2018/05/one-full-day-seminar-on-fema-at-mumbai.html<span style="font-family: "Arial","sans-serif"; font-size: 10.0pt; font-weight: normal;"><o:p></o:p></span></a></span></b></div>
<div class="MsoNormal" style="background: white; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; mso-shading: transparent; padding: 0cm;">
<br /></div>
</div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com2tag:blogger.com,1999:blog-2906868925660021667.post-82573834093228946942018-05-19T21:29:00.000-07:002018-05-20T04:46:30.724-07:00FREQUENTLY ASKED QUESTIONS ON EXTERNAL COMMERCIAL BORROWIGNS BY RBI UPDATED AS ON 11th MAY 2018.<br />
<div class="MsoNormal">
<span style="font-size: 36.0pt; line-height: 107%;"><span style="background-color: white;"><span style="color: red;"><b>RECENT
UPDATES BY RBI</b></span></span><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 36.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 36.0pt; line-height: 107%;"><b><span style="color: orange;">FAQ’s ISSUED
BY RBI on ECBs </span></b><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt; line-height: 107%;"><span style="color: blue;">FREQUENTLY ASKED
QUESTIONS ON EXTERNAL COMMERCIAL BORROWIGNS BY RBI UPDATED AS ON 11th MAY 2018.</span><o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt; line-height: 107%;">RBI FAQ’s covers the
following areas:<o:p></o:p></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-insideh-themecolor: accent2; mso-border-insideh: 6.0pt thin-thick-medium-gap #ED7D31; mso-border-insidev-themecolor: accent2; mso-border-insidev: 6.0pt thin-thick-medium-gap #ED7D31; mso-border-themecolor: accent2; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="background: yellow; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">1<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-left: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-themecolor: accent2; mso-border-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q6">What
are the various types of ECB?</a><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="background: yellow; border-top: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">2<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-bottom: double #ED7D31 6.0pt; border-left: none; border-right: double #ED7D31 6.0pt; border-top: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-bottom-themecolor: accent2; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-right-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q9">What
precautions have to be taken before raising loan from overseas?</a><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="background: yellow; border-top: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">3<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-bottom: double #ED7D31 6.0pt; border-left: none; border-right: double #ED7D31 6.0pt; border-top: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-bottom-themecolor: accent2; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-right-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q12">Is a
Limited Liability Partnership (LLP) or Partnership firm or Proprietary
concern eligible to raise ECB?</a><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="background: yellow; border-top: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">4<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-bottom: double #ED7D31 6.0pt; border-left: none; border-right: double #ED7D31 6.0pt; border-top: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-bottom-themecolor: accent2; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-right-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q16">Whether
educational institutes/ universities/ deemed universities are eligible to
raise ECB?</a><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="background: yellow; border-top: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">5<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-bottom: double #ED7D31 6.0pt; border-left: none; border-right: double #ED7D31 6.0pt; border-top: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-bottom-themecolor: accent2; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-right-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q18">What
are the requirements in respect of currencies of ECB?</a><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="background: yellow; border-top: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">6<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-bottom: double #ED7D31 6.0pt; border-left: none; border-right: double #ED7D31 6.0pt; border-top: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-bottom-themecolor: accent2; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-right-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q46">Is
corporate guarantee from overseas permitted for ECB?</a><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="background: yellow; border-top: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">7<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-bottom: double #ED7D31 6.0pt; border-left: none; border-right: double #ED7D31 6.0pt; border-top: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-bottom-themecolor: accent2; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-right-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q52">What
precautions have to be taken at the time of filing of Form 83 in respect of
an ECB?</a><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 7; mso-yfti-lastrow: yes;">
<td style="background: yellow; border-top: none; border: double #ED7D31 6.0pt; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 13.95pt;" valign="top" width="23"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;">8<o:p></o:p></span></b></div>
</td>
<td style="background: yellow; border-bottom: double #ED7D31 6.0pt; border-left: none; border-right: double #ED7D31 6.0pt; border-top: none; mso-border-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-bottom-themecolor: accent2; mso-border-left-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-left-themecolor: accent2; mso-border-right-themecolor: accent2; mso-border-themecolor: accent2; mso-border-top-alt: thin-thick-medium-gap #ED7D31 6.0pt; mso-border-top-themecolor: accent2; padding: 0cm 5.4pt 0cm 5.4pt; width: 436.85pt;" valign="top" width="728"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 26.0pt;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5#q53">How
are actual transactions of an ECB reported to RBI?</a><o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "calibri light" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">For
more details , please click the following link:<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "calibri light" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "calibri light" , sans-serif; line-height: 107%;"><a href="https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5"><span style="font-size: x-large;">https://www.rbi.org.in/scripts/FS_FAQs.aspx?Id=120&fn=5</span></a><span style="font-size: 16pt;"><o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><br /></b></div>
<div style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 1pt solid; padding: 1pt 4pt;">
<div class="MsoNormal" style="background: rgb(255, 192, 0); border: none; padding: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "algerian"; font-size: 28.0pt; line-height: 107%;">One Full day
seminar on FEMA at Mumbai on June 2 ,2018<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: rgb(255, 192, 0); border: none; padding: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "calibri light" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">Please attend one Full day
seminar on FEMA at Mumbai on June 2 ,2018 as only limited seats are available.
Please rush your request immediately.<o:p></o:p></span></b><br />
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "calibri light" , "sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: none; padding: 0cm; text-align: justify;">
<div style="background-color: #ffc000;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "calibri light" , "sans-serif"; font-size: 16.0pt; line-height: 107%;">For more details , please click
the following link:<o:p></o:p></span></b></div>
<b style="mso-bidi-font-weight: normal;"><span style="background-color: white; font-family: "calibri light" , "sans-serif"; font-size: x-large; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: none; padding: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "calibri light" , "sans-serif"; line-height: 107%;"><a href="http://rvseckarfema.blogspot.in/2018/05/one-full-day-seminar-on-fema-at-mumbai.html"><span style="font-size: large;"><span style="background-color: white;"><span style="color: blue;"><span style="font-size: large;">h</span><span style="font-size: large;">tt</span></span></span><span style="background-color: white;"><span style="color: blue;">p://rvseckarfema.blogspot.in/2018/05/one-full-day-seminar-on-fema-at-mumbai.h</span><span style="color: blue;">tml</span></span></span></a><span style="background-color: blue; font-size: 16pt;"><o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: none; padding: 0cm; text-align: justify;">
<br /></div>
</div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-68321570290979934812018-05-15T23:56:00.000-07:002018-05-25T07:15:38.267-07:00ONE FULL DAY SEMINAR ON FEMA AT MUMBAI DATE: June 2, 2018 SATURDAY<br />
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="background: yellow; color: #00b0f0; font-family: "calibri light" , "sans-serif"; font-size: 28.0pt;">ONE
FULL DAY SEMINAR ON FEMA</span></b><b><span style="color: #00b0f0; font-family: "calibri light" , "sans-serif"; font-size: 28.0pt;"> <span style="background: yellow;">AT
MUMBAI</span> </span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">By R V Seckar,
F.C.S, ICSA (UK), LLB<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="background: yellow; border: solid 1.0pt; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 22.0pt; padding: 0cm;">DATE:
June 2, 2018 SATURDAY</span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="background: yellow; border: solid 1.0pt; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 12.0pt; padding: 0cm;">FEE: Rs 2000/= per participant including lavish
Lunch ¸two tea-breaks and materials</span></b><b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 12.0pt;"><o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0; mso-yfti-lastrow: yes;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 56.45pt;" valign="top" width="94"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="background: yellow; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Venue :<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 394.35pt;" valign="top" width="657"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="background: yellow; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Sunville- Banquet &
Conference , 9, Dr. Annie Besent Road, Worli , Mumbai -18<span style="mso-spacerun: yes;"> </span>Telephone- 24978082, 24921604<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Payment to be sent to: <o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Axis Bank - Koyambedu branch- Savings Bank Account Number <span style="background: yellow;">910010030395067</span> -IFSC Code : UTIB0001009-
Beneficiary Name -</span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><br />
</span><b><span style="background: yellow; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">R V Seckar<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;">You can pay through your mobile through</span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="background: yellow; color: #222222; font-family: "arial" , "sans-serif"; font-size: 18.0pt;">SBI BUDDY – 9848915177</span></b><span style="background: yellow; color: #222222; font-family: "arial" , "sans-serif"; font-size: 18.0pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="background: yellow; color: #222222; font-family: "arial" , "sans-serif"; font-size: 18.0pt;">Or</span></b><span style="background: yellow; color: #222222; font-family: "arial" , "sans-serif"; font-size: 18.0pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="background: yellow; color: #222222; font-family: "arial" , "sans-serif"; font-size: 18.0pt;">BHIM -9848915177@UP</span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 18.0pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div align="center" class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: normal; margin-bottom: 0.0001pt; text-align: center;">
<b><span style="font-family: "calibri light" , sans-serif; font-size: 24pt;"><span style="background-color: yellow;">Morning Session</span><span style="background-color: white; color: #222222;"><o:p></o:p></span></span></b></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">10 A.M to 11.30 A.M<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Various Compliances under</span></b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"> <b>FEMA</b> – <o:p></o:p></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="background: yellow; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">useful to Compliance officers of Listed Companies
, Public companies and private limited companies which has FDI , ECB , ODI ,
etc.</span><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">11.45 A.M To 12.15 Noon<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><i><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">How to Make Compounding Application
to RBI? What are all to be included in the pleadings?</span></i></b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">12.15 Noon to 1 P.M<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">RECENT AMENDMENTS IN FEMA AND
WHAT THE follow-up actions to be taken by the PROFESSIONALS</span></b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"> LIKE
COMPANY SECRETARIES , CHARTERED ACCOUNTANTS , CMAS & ADVOCATES in
compliance of the same<b><i><o:p></o:p></i></b></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div align="center" class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: normal; margin-bottom: 0.0001pt; text-align: center;">
<b><span style="color: #222222; font-family: "calibri light" , sans-serif; font-size: 22pt;"><span style="background-color: yellow;">Afternoon Session</span><span style="background-color: white;"><o:p></o:p></span></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">2 P.M to 2.30 PM </span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">How to Upload FC-GPR, FC-TRS in the
ebiz Portal and what are the practical issues faced by the professionals and
how to ove</span></b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">r-come</span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">2.3O-3.30</span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">AVAILING ECB, MAKING ODI –
PROCEDURES , COMPLIANCES</span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<br /></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">3.30 to 4.30 P.M </span><span style="color: black; font-family: "tahoma" , "sans-serif"; font-size: 9.5pt;"> </span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Compliance for Investment by NRI
& Foreign Entities and Transfers</span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">4.30 P.M to 5.00 P.M<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="376"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Questions and answers</span></b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"> on the
topic discussed in the seminar<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: black; font-family: "tahoma" , "sans-serif"; font-size: 9.5pt;">-</span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">– </span><span style="color: #222222; font-family: "times new roman" , "serif"; font-size: 12.0pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="background: yellow; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Feedback of my full
day seminar on FEMA at Chennai held on 17<sup>th</sup> September
2016- click here</span></b><span style="color: #222222; font-family: "times new roman" , "serif"; font-size: 12.0pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"><a href="http://rvseckarfema.blogspot.in/2016/09/feedback-on-my-seminar-on-fema-held-at.html" target="_blank"><span style="color: #1155cc;">http://rvseckarfema.blogspot.in/2016/09/feedback-on-my-seminar-on-fema-held-at.html</span></a><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="background: yellow; color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Feedback on
my FEMA seminar at Mysore ICSI chapter on 2nd December 2016,
click here</span></b><span style="color: #222222; font-family: "times new roman" , "serif"; font-size: 12.0pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: normal; margin-bottom: 0cm; text-align: justify;">
<div style="background-color: white;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"><span style="color: #1155cc;"><a href="http://rvseckarfema.blogspot.in/2016/12/my-fema-seminar-at-mysore-icsi-chapter.html" target="_blank">http://rvseckarfema.blogspot.in/2016/12/my-fema-seminar-at-mysore-icsi-chapter.html</a></span></span><span style="color: #222222; font-family: "times new roman" , "serif"; font-size: 12.0pt;"><o:p></o:p></span></div>
<div style="background-color: white;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"><br /></span></div>
<div style="background-color: white;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"><br /></span></div>
<div style="background-color: white;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;"></span></div>
<h2 style="color: #666666; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13px; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal; margin: 0.5em 0px; position: relative; text-align: start; text-transform: uppercase;">
<span style="color: blue;"><span style="font-size: large;"><span style="background-color: yellow;">COMMENTS AND PHOTOS TAKEN AT FULL DAY WORKSHOP ON FEMA HELD AT BENGALURU ON 21ST JANUARY 2017 AT HOTEL CHALUKY</span><span style="background-color: white;">A</span></span><span style="background-color: white;"> </span></span></h2>
<div>
<span style="color: blue;"><span style="background-color: white;"><br /></span></span></div>
</div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<a href="https://rvseckarfema.blogspot.in/2017/01/full-day-fema-workshop-held-at.html"><span style="font-size: x-large;">https://rvseckarfema.blogspot.in/2017/01/full-day-fema-workshop-held-at.html</span></a><br />
<br />
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Seminar will be handled by</span><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">R.V.Seckar, F.C.S, ICSA (UK), LLB,
M.com</span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "calibri light" , sans-serif;"><span style="font-size: 18.6667px;"><b>Consultant in FEMA , Corporate Law , Insolvency law and NBFC </b></span></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: #222222; font-family: "calibri light" , "sans-serif"; font-size: 14.0pt;">Interested can contact: 09848915177, <a href="mailto:rvsekar2007@gmail.com" target="_blank"><span style="color: #1155cc;">rvsekar2007@gmail.com</span></a></span></b><span style="color: #222222; font-family: "arial" , "sans-serif"; font-size: 9.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; line-height: normal; margin-bottom: 0.0001pt;">
<b><span style="background-color: yellow; color: #222222; font-family: "calibri light" , sans-serif;"><span style="font-size: x-large;">Please rush your registration as limited seats only available</span></span></b><span style="background-color: white; color: #222222; font-family: "arial" , sans-serif; font-size: 9.5pt;"><o:p></o:p></span><br />
<b><span style="background-color: yellow; color: #222222; font-family: "calibri light" , sans-serif;"><span style="font-size: x-large;"><br /></span></span></b>
<span style="color: #222222; font-family: calibri light, sans-serif; font-size: x-large;"><b style="background-color: white;"><a href="http://rvseckarfema.blogspot.in/2018/05/one-full-day-seminar-on-fema-at-mumbai.html">http://rvseckarfema.blogspot.in/2018/05/one-full-day-seminar-on-fema-at-mumbai.html</a></b></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com3tag:blogger.com,1999:blog-2906868925660021667.post-65063676593376799132018-05-15T04:53:00.000-07:002018-05-15T05:19:00.045-07:00Important Amendments in External Commercial Borrowing – Changes notified on 14.05.2018 by Reserve Bank of India<br />
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">Important Amendments in External Commercial Borrowing – Changes
notified on 14.05.2018 by Reserve Bank of India<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOQ7N3SueY2gtYjPTvgm-wRDoGj5zFoi1XLNQRiwNwwNhyCT0AmDmwOMOcdTNV4xzvok9I61IbshhcvsjZJTznQwWtOE3LFf3v7-RTx86uuYcM0mtH3NykJN81nsjQQD_PtiguPgyjhw/s1600/images+%25282%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar FEMA Consultant 09849015177 rvsekar2007@gmail.com ECB, Incorporation of project ,liasion and project office" border="0" data-original-height="183" data-original-width="276" height="424" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOQ7N3SueY2gtYjPTvgm-wRDoGj5zFoi1XLNQRiwNwwNhyCT0AmDmwOMOcdTNV4xzvok9I61IbshhcvsjZJTznQwWtOE3LFf3v7-RTx86uuYcM0mtH3NykJN81nsjQQD_PtiguPgyjhw/s640/images+%25282%2529.jpg" title="R V Seckar FEMA Consultant 09849015177 rvsekar2007@gmail.com ECB, Incorporation of project ,liasion and project office" width="640" /></a></div>
<div class="MsoNormal" style="text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">Rationalisation of all-in-cost for ECB under all tracks and Rupee
denominated bonds (RDBs)- <o:p></o:p></span></b></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">With a view to harmonising the extant
provisions of Foreign Currency and Rupee ECBs and RDBs, it has been decided to
stipulate a uniform all-in-cost ceiling of 450 basis points over the benchmark
rate. The benchmark rate will be 6 month USD LIBOR3 (or applicable benchmark
for respective currency) for Track I and Track II, while it will be prevailing
yield of the Government of India securities of corresponding maturity for Track
III (Rupee ECBs) and RDBs. ‘All-in-cost’- <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div align="center" class="MsoNormal" style="margin-left: 18.0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">The Meaning of “
All-in-Cost”<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="margin-left: 18.0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">The term ‘All-in-Cost’ includes rate
of interest, other fees, expenses, charges, guarantee fees whether paid in
foreign currency or Indian Rupees (INR) but will not include commitment fees,
pre-payment fees / charges, withholding tax payable in INR. In the case of
fixed rate loans, the swap cost plus spread should be equivalent of the
floating rate plus the applicable spread.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 18.0pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div align="center" class="MsoNormal" style="margin-left: 18.0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">The Meaning of Tracks
under ECB<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="margin-left: 18.0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">Presently, ECB can be raised under
the following TRACKS.<o:p></o:p></span></div>
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<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; margin-left: 18.0pt; mso-border-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-insideh: 4.5pt thin-thick-small-gap #C00000; mso-border-insidev: 4.5pt thin-thick-small-gap #C00000; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: double #C00000 4.5pt; mso-border-alt: thin-thick-small-gap #C00000 4.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 144.25pt;" valign="top" width="240"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="font-family: "arial black" , "sans-serif"; font-size: 18.0pt;">Track I:</span><span style="font-size: 16.0pt;"><o:p></o:p></span></div>
</td>
<td style="border-left: none; border: double #C00000 4.5pt; mso-border-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-left-alt: thin-thick-small-gap #C00000 4.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 144.25pt;" valign="top" width="240"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="font-family: "arial black" , "sans-serif"; font-size: 18.0pt;">Track II:<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: double #C00000 4.5pt; mso-border-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-left-alt: thin-thick-small-gap #C00000 4.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 144.3pt;" valign="top" width="241"><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<span style="font-family: "arial black" , "sans-serif"; font-size: 18.0pt;">Track III:<o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: double #C00000 4.5pt; mso-border-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-top-alt: thin-thick-small-gap #C00000 4.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 144.25pt;" valign="top" width="240"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-size: 16.0pt;">Medium term
foreign currency denominated ECB with minimum average maturity of 3/5 years<o:p></o:p></span></div>
</td>
<td style="border-bottom: double #C00000 4.5pt; border-left: none; border-right: double #C00000 4.5pt; border-top: none; mso-border-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-left-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-top-alt: thin-thick-small-gap #C00000 4.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 144.25pt;" valign="top" width="240"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-size: 16.0pt;">Long term foreign
currency denominated ECB with minimum average maturity of 10 years.<o:p></o:p></span></div>
</td>
<td style="border-bottom: double #C00000 4.5pt; border-left: none; border-right: double #C00000 4.5pt; border-top: none; mso-border-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-left-alt: thin-thick-small-gap #C00000 4.5pt; mso-border-top-alt: thin-thick-small-gap #C00000 4.5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 144.3pt;" valign="top" width="241"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-size: 16.0pt;">Indian Rupee (INR)
denominated ECB with minimum average maturity of 3/5 years.<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">2. Expansion of Eligible
Borrowers’ list for the purpose of ECB – <o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">It has been decided to permit: <o:p></o:p></span></div>
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<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">Housing Finance
Companies To Avail ECB<o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div style="border: solid windowtext 1.0pt; margin-left: 18.0pt; margin-right: 0cm; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
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<span style="font-size: 16.0pt; line-height: 107%;">A.
Housing Finance Companies, regulated by the National Housing Bank, as eligible
borrowers to avail of ECBs under all tracks. Such entities shall have a board
approved risk management policy and shall keep their ECB exposure hedged 100
per cent at all times for ECBs raised under Track I. <o:p></o:p></span></div>
</div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">Port Trusts To Avail ECB<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="margin-left: 18.0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div style="border: solid windowtext 1.0pt; margin-left: 18.0pt; margin-right: 0cm; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
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<span style="font-size: 16.0pt; line-height: 107%;">B. Port Trusts constituted under the Major Port Trusts
Act, 1963 or Indian Ports Act, 1908 to avail of ECBs under all tracks. Such
entities shall have a board approved risk management policy and shall keep
their ECB exposure hedged 100 per cent at all times for ECBs raised under Track
I. <o:p></o:p></span></div>
</div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">Companies in Maintenance
and Freight Forwarding to Avail ECB <o:p></o:p></span></b></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div style="border: solid windowtext 1.0pt; margin-left: 18.0pt; margin-right: 0cm; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
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<span style="font-size: 16.0pt; line-height: 107%;">C. Companies engaged in the business of Maintenance,
Repair and Overhaul and freight forwarding to raise ECBs denominated in INR
only.<o:p></o:p></span></div>
</div>
<div class="MsoNormal" style="tab-stops: 177.2pt;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="tab-stops: 177.2pt;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">3. Revisiting ECB Liability to Equity Ratio provisions</span></b><span style="font-family: "arial black" , "sans-serif"; font-size: 18.0pt; line-height: 107%;">
–<o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt;">
<span style="font-family: "arial black" , "sans-serif"; font-size: 18.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">It has been decided to increase the
ECB Liability to Equity Ratio for ECB raised from direct foreign equity holder
under <span style="background: yellow; mso-highlight: yellow;">the automatic route
to 7:1.</span> This ratio will not be applicable if total of all ECBs raised by
an entity is up to USD 5 million or equivalent. Earlier an ‘ECB liability to
equity’ ratio of more than 4:1 needed approvals from the RBI.<o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">4. ECB for Working capital purposes<o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">5.Rationalisation of end-use
provisions for ECBs – <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">It has now been decided to have only
a negative list for all tracks that would include the following: <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">Negative list for all
tracks<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="tab-stops: 177.2pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div align="center" class="MsoNormal" style="tab-stops: 177.2pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "arial black" , "sans-serif"; font-size: 20.0pt; line-height: 107%;">Investment in Real
Estate<o:p></o:p></span></b></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">a. Investment in real estate or
purchase of land except when used for affordable housing as defined in
Harmonised Master List of Infrastructure Sub-sectors6 notified by Government of
India, construction and development of SEZ and industrial parks/integrated
townships <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">b. Investment in capital market <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt;">
<span style="font-size: 16.0pt; line-height: 107%;">c. Equity investment<o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">Additionally for Tracks I and III,
the following negative end uses will also apply except when raised from <span style="background: yellow; mso-highlight: yellow;">Direct and Indirect equity
holders or from a Group company,</span> and provided the <span style="background: yellow; mso-highlight: yellow;">loan is for a minimum average
maturity of five years:<o:p></o:p></span></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">Additionally for Tracks I and III,
the following negative end uses will also apply except when raised from Direct
and Indirect equity holders or from a Group company, and provided the loan is
for a minimum average maturity of five years: <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">D. Working capital purposes<o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">e. General corporate purposes <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">f. Repayment of Rupee loans <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">Finally, for all Tracks, the
following negative end use will also apply: g. On-lending to entities for the
above activities from (a) to (f) <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">Earlier, a positive end-use list is
prescribed for Track I and specified category of borrowers, while negative
end-use list is prescribed for Track II and III. <o:p></o:p></span></div>
<div class="MsoNormal" style="tab-stops: 177.2pt; text-align: justify;">
<span style="font-size: 16.0pt; line-height: 107%;">The above mentioned changes are in
the best interest of letting an entity have easy and hassle free access to ECB</span><span style="font-family: "arial black" , "sans-serif"; font-size: 18.0pt; line-height: 107%;"><o:p></o:p></span><br />
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span>
<span style="font-size: 16.0pt; line-height: 107%;">Click here to access the Master Direction on ECB</span><br />
<span style="font-size: 16.0pt; line-height: 107%;"><br /></span>
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<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com1tag:blogger.com,1999:blog-2906868925660021667.post-69558800868393327372018-05-05T20:54:00.003-07:002018-05-05T20:54:43.397-07:00Walmart-Flipkart deal turns political, lobby groups allege flouting of FDI norms<br />
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<span style="color: red; font-family: "Eras Bold ITC", sans-serif; font-size: 28pt; line-height: 107%;"><b>Walmart-Flipkart deal turns political, lobby groups allege flouting
of FDI norms<o:p></o:p></b></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Eras Bold ITC", sans-serif; line-height: 107%;"><span style="color: blue; font-size: x-large;">The Deal is against the FDI Norms.</span><span style="color: #00b0f0; font-size: 20pt;"><o:p></o:p></span></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">Amid acquisition talks between Walmart and Flipkart,
opposition from political corridors has already started brewing against the
deal. They allege the deal is against FDI norms.<o:p></o:p></span></div>
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<span style="font-size: 16.0pt; line-height: 107%;">The Swadesh Jagaran Manch (SJM), an affiliate of the
Rashtriya Swayamsevak Sangh (RSS), and other trade lobby groups have raised the
concerns.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Eras Bold ITC", sans-serif; line-height: 107%;"><span style="color: blue; font-size: x-large;">FDI in ecommerce is not allowed.</span><span style="color: #00b0f0; font-size: 20pt;"><o:p></o:p></span></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">The SJM’s national co-convenor Ashwani Mahajan said that the deal
is in violation of Indian laws, as FDI in ecommerce is not allowed.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Eras Bold ITC", sans-serif; font-size: 20pt; line-height: 107%;"><span style="color: blue;"> Kill competition and
flush small retailers.</span><span style="color: #00b0f0;"><o:p></o:p></span></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">He alleged that companies such as Flipkart and Amazon were
circumventing FDI rules by operating the marketplace model. He also believed
that the foreign entities will also kill competition and flush small retailers.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Eras Bold ITC", sans-serif; font-size: 20pt; line-height: 107%;"><span style="color: blue;">Retailers Association of India (RIA) raised the issue of FDI
rules violations by the e-tailers.</span><span style="color: #00b0f0;"><o:p></o:p></span></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">In a complaint to Commerce Minister Suresh Prabhu, the
association alleged that these marketplace models have been operating against
the spirit of the policy. It further added that these firm have been
influencing prices on their platforms and illegally offers abnormal discounts.<o:p></o:p></span></div>
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<span style="font-size: 16.0pt; line-height: 107%;">Besides, All India Online Vendors’ Association (AIOVA), a
group of 3500 online sellers, is another grudging party which has not been kept
in loop of any communication between Flipkart and Walmart. They are unsure what
would be their future on the platform.</span> <o:p></o:p></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Eras Bold ITC", sans-serif; font-size: 20pt; line-height: 107%;"><span style="color: blue;">100 per cent FDI in online retail of goods and services under
the so-called “marketplace model”</span><span style="color: #00b0f0;"><o:p></o:p></span></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">In March last year, the government announced to introduce 100
per cent FDI in online retail of goods and services under the so-called
“marketplace model” through the automatic route, seeking to legitimize existing
businesses of e-commerce companies operating in India.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Eras Bold ITC", sans-serif; line-height: 107%;"><span style="color: blue; font-size: x-large;">DIPP’s Clarification</span><span style="color: #00b0f0; font-size: 20pt;"><o:p></o:p></span></span></b></div>
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<span style="font-size: 16.0pt; line-height: 107%;">At that time, department of industrial policy and promotion
(DIPP) explained that the marketplace model is an information technology
platform run by an e-commerce entity on a digital and electronic network to act
as a facilitator between buyer and seller.<o:p></o:p></span></div>
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<span style="background: yellow; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;">DIPP had prohibited
FDI in e-commerce companies that own inventories of goods and services and sell
directly to consumers using online platforms</span><span style="font-size: 16.0pt; line-height: 107%;"><o:p></o:p></span></div>
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<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com1tag:blogger.com,1999:blog-2906868925660021667.post-25275574242481546932018-04-17T16:37:00.001-07:002018-04-17T16:37:06.636-07:00RBI Tightens Monitoring of Liberalised Remittance Scheme (LRS) for Overseas Money Transferring<br />
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<b><span style="font-size: 28.0pt; line-height: 107%;"><span style="color: red;">RBI Tightens
Monitoring of Liberalised Remittance Scheme (LRS) for Overseas Money
Transferring</span><o:p></o:p></span></b></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;">The Reserve Bank
today tightened reporting norms for the Liberalised Remittance Scheme (LRS)
under which an individual can transfer up to USD 2,50,000 abroad in a year.<o:p></o:p></span></div>
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<span style="font-family: "Berlin Sans FB", sans-serif; line-height: 107%;"><span style="font-size: x-large;"><span style="background: yellow; line-height: 107%;">Declaration
made by the Remitt</span><span style="line-height: 107%;">er</span></span></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;">The LRS
transactions are currently permitted by banks based on the <span style="background: yellow; mso-highlight: yellow;">declaration made by the remitt</span>er.<o:p></o:p></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;">The monitoring of
adherence to the limit is confined to obtaining such a declaration without
independent verification, in the absence of a reliable source of information.<o:p></o:p></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;">"In order to
improve monitoring and also to ensure compliance with the LRS limits, it has
been decided to put in place a daily reporting system by AD banks of
transactions undertaken by individuals under LRS, which will be accessible to
all the other ADs," the RBI said in a notification.<o:p></o:p></span></div>
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<span style="font-family: "Berlin Sans FB", sans-serif; line-height: 107%;"><span style="background-color: white;"><span style="color: red; font-size: x-large;">To Upload Daily Transaction-Wise
Information </span></span><span style="font-size: 20pt;"><o:p></o:p></span></span></div>
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<span style="font-family: "Berlin Sans FB", sans-serif; line-height: 107%;"><span style="background-color: white;"><span style="color: red; font-size: x-large;"><br /></span></span></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="background: yellow; font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;">Now banks will be required to upload daily
transaction-wise information undertaken by them under LRS.</span><span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;"><o:p></o:p></span></div>
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<span style="background: lime; font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%; mso-highlight: lime;">Under the LRS, all resident individuals, including minors,
are allowed to freely remit up to USD 2,50,000 per financial year for any
permissible current or capital account transaction or a combination of both.</span><span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;"><o:p></o:p></span></div>
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<span style="background: lime; font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%; mso-highlight: lime;"><br /></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;">Individuals can
avail of foreign exchange facility for the purposes within the limit of USD
2,50,000 only.<o:p></o:p></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;">The scheme was
introduced on February 4, 2004, with a limit of USD 25,000.<o:p></o:p></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;">The LRS limit has
been revised in stages consistent with prevailing .<o:p></o:p></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-family: "Berlin Sans FB","sans-serif"; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-family: "Berlin Sans FB", sans-serif; line-height: 107%;"><span style="font-size: x-large;"><br /></span></span></div>
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<span style="font-family: "Berlin Sans FB", sans-serif; line-height: 107%;"><span style="font-size: x-large;">Courtesy - Indian Express </span></span></div>
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<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-50072047438286696642018-04-06T06:53:00.000-07:002018-04-06T06:53:07.747-07:00SEIS Benefits on your Foreign Exchange Earnings under FTP 2015 - 2021 - Benefits for Service Exporters and Product Exporters<br />
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b><span style="color: red; font-family: "Comic Sans MS"; font-size: 28.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">SEIS Benefits on your Foreign
Exchange Earnings under FTP 2015 - 2021 - Benefits for Service Exporters and
Product Exporters </span></b><span style="color: red; font-family: "Comic Sans MS"; font-size: 28.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhN2Fo4hIOhBwAZbWvdFWX7sYlD8ODwLp10LhhSACkMWdzNj81TuowdeTypF5sC50z0oEdN05shNtTZEh1aex7EA0EGm9vTveVDpk-7DnwSvzixHLIIHeGy7YahgnIBpzCuzlHJHvSy_w/s1600/slide_3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar Consultant in FEMA , Corporate and Insolvency Law consultant, " border="0" data-original-height="720" data-original-width="1280" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhN2Fo4hIOhBwAZbWvdFWX7sYlD8ODwLp10LhhSACkMWdzNj81TuowdeTypF5sC50z0oEdN05shNtTZEh1aex7EA0EGm9vTveVDpk-7DnwSvzixHLIIHeGy7YahgnIBpzCuzlHJHvSy_w/s640/slide_3.jpg" title="R V Seckar Consultant in FEMA , Corporate and Insolvency Law consultant, " width="640" /></a></div>
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<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><br /></span></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Comic Sans MS"; font-size: 24.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">What is SEIS ?<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Service
providers of eligible services shall be entitled to duty credit scrip at
notified rates on the net foreign exchange earned. Duty credit scrips can be <span style="background: yellow; mso-highlight: yellow;">used for the payment
of custom duties, excise duties, service tax on procurement of services,
custom duty in case of default in fulfillments of export obligation under
Advance Authorization/EPCG, etc.,</span><o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"> Further,
the SEIS scheme has given relaxation to the actual user condition and duty
credit scrips and goods imported using duty credit scrips are freely
transferable. Duty credit scrip would be valid for a period of 18
months from the date of issue<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">As per new FTP announced on 1st
April’ 15; you shall be eligible for benefits under the SEIS Scheme
against the Services earned in Foreign Exchange/ Deemed Foreign Exchange.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtkaukET3EHt_6RxSpsVbzFf6ZPlNHZpmNy73reMSPv0-muJrtLazZ_j7Wke9iXiMHzMiNvkGfQbLe31hX46B6fZYezhZG6a9M8vJBFrptKF2i0Am1m79FRMteRUaDpK9xHDvo9-1nsA/s1600/We+Assist+you+to+Claim+SEIS+benefits+for.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar Consultant in FEMA , Corporate and Insolvency Law consultant, " border="0" data-original-height="720" data-original-width="960" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtkaukET3EHt_6RxSpsVbzFf6ZPlNHZpmNy73reMSPv0-muJrtLazZ_j7Wke9iXiMHzMiNvkGfQbLe31hX46B6fZYezhZG6a9M8vJBFrptKF2i0Am1m79FRMteRUaDpK9xHDvo9-1nsA/s640/We+Assist+you+to+Claim+SEIS+benefits+for.jpg" title="R V Seckar Consultant in FEMA , Corporate and Insolvency Law consultant, " width="640" /></a></div>
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<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><br /></span></div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Comic Sans MS"; font-size: 26.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Who are All Eligible for Claiming the Benefits ?<o:p></o:p></span></b></div>
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<br /></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Comic Sans MS"; font-size: 26.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">For Company / LLP<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Service
Providers of notified services, located in India are eligible for the Service
Exports from India Scheme. To be eligible, a service provider (Company / LLP /
Partnership Firm) should have a minimum net free foreign exchange earnings of
USD15000 in the preceding financial year to be eligible for duty credit scrips.
<o:p></o:p></span></div>
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<br />
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Comic Sans MS"; font-size: 26.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">For Partnership & Individual Service Providers <o:p></o:p></span></b></div>
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<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">For
proprietorships or individual service providers, a minimum net foreign exchange
earnings of USD10,000 in the preceding financial year is required to be
eligible for the scheme. Also, in order to claim reward under the SEIS scheme,
the service provider shall have to have an active Import Export Code (IE
Code) at the time of rendering such services for which rewards are claimed.<o:p></o:p></span></div>
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<br />
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Comic Sans MS"; font-size: 26.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Eligible Service Providers for SEIS Scheme<o:p></o:p></span></b></div>
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<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: triple red 2.5pt; mso-border-insideh: 2.5pt triple red; mso-border-insidev: 2.5pt triple red; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
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<td style="border: double red 2.5pt; mso-border-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">1<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Professional
Services </span></b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></div>
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<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">2<o:p></o:p></span></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Research and
Development Services</span></b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 2;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">3<o:p></o:p></span></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Rental/Leasing Services without Operators<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">4<o:p></o:p></span></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Audiovisual Services <o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 4;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">5<o:p></o:p></span></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Construction and
Related Engineering Services </span></b><b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;"><o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 5;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">6<o:p></o:p></span></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Educational Services<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 6;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">7<o:p></o:p></span></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Environmental Service<b><o:p></o:p></b></span></div>
</td>
</tr>
<tr style="mso-yfti-irow: 7;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">8<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Health and Social
Services<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 8;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">9<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Tourism and
Travel Services<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 9;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">10<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Recreational,
Cultural and Sporting Services <o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 10; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: double red 2.5pt; mso-border-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">11<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: double red 2.5pt; border-left: none; border-right: double red 2.5pt; border-top: none; mso-border-alt: triple red 2.5pt; mso-border-left-alt: triple red 2.5pt; mso-border-top-alt: triple red 2.5pt; padding: 0cm 5.4pt 0cm 5.4pt;" valign="top">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">Other Business
Services<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
</div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div align="center" class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: red; font-family: "Comic Sans MS"; font-size: 26.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">What Service we are Providing ?<o:p></o:p></span></b></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">We do apply and get the Issuance
of SEIS Scrip from the Government/ DGFT in your favour as per the
prescribed guidelines of the FTP.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">The scrips, if preferred so, may be
transferred/sold to anybody in advance at best rate, which will be paid
immediately against delivery of Scrip along with Transfer Letter duly attested
by your Bankers and the Sale Invoice.<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: #222222; font-family: "Comic Sans MS"; font-size: 16.0pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-IN;">We do charge our commission for
processing and preparing the Application for SEIS Scrip only after
issuance of the same in your favour; except your direct payment of Governmental
fee for it, as per Policy.<o:p></o:p></span></div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-62515962753291927112018-04-02T18:28:00.003-07:002018-04-02T18:28:31.514-07:00The Foreign Exchange Management (Cross Border Merger) Regulations, 2018<br />
<div class="MsoNormal" style="text-align: justify;">
<span style="color: red; font-family: Forte; font-size: 24.0pt; line-height: 107%;">The Foreign Exchange Management
(Cross Border Merger) Regulations, 2018<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="color: red; font-family: Forte; font-size: 24.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<b><span style="color: #0070c0; line-height: 107%;"><span style="font-size: large;">NO PRIOR APPROVAL IS REQUIRED FROM RBI IF CROSS BORDER MERGER IF
IT IS IN COMPLIANCE WITH THE FEMA 389/ 2018-RB dated 20 March, 2018</span><span style="font-size: x-large;">.</span><span style="font-size: 14pt;"><o:p></o:p></span></span></b></div>
<div class="MsoNormal">
<b><span style="color: #0070c0; font-size: 14.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;">Section 234 of the Companies Act,
2013 (notified with effect from 13 April, 2017) provided for the cross border
merger of Indian and foreign companies. Further, Companies (Compromises, Arrangements
and Amalgamation) Rules, 2016, as amended by the Companies (Compromises,
Arrangements and Amalgamation) Amendment Rules, 2017 (Co. Rules) were issued.
Section 234 provides for prior Reserve Bank of India (RBI) approval in case of
cross border merger. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH4hbjbiXpEyD6Wkc9PRpLxjdQXvuk6so0pc9D0xJjE5hmW55vVs2RW1pNkZkYUYUpY_OQNYrM5J_DV7jebOhVbfduZLgYbGWdjN7te0QPsGKKN-vbORop39scR80XjQR6GEcSoSeyvQ/s1600/download.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " border="0" data-original-height="194" data-original-width="259" height="479" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH4hbjbiXpEyD6Wkc9PRpLxjdQXvuk6so0pc9D0xJjE5hmW55vVs2RW1pNkZkYUYUpY_OQNYrM5J_DV7jebOhVbfduZLgYbGWdjN7te0QPsGKKN-vbORop39scR80XjQR6GEcSoSeyvQ/s640/download.jpg" title="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " width="640" /></a></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;">On 26 April, 2017, the RBI issued
draft regulations relating to cross border mergers for comments from the
public. The Foreign Exchange Management (Cross Border Merger) Regulations, 2018
have now been notified vide notification no. FEMA 389/ 2018-RB dated 20 March,
2018 and are effective from the date of notification. As per the Regulations,
merger transactions in compliance with these regulations shall be deemed to
have been approved by RBI, and hence, no separate approval should be required.
In other cases, merger transactions should require prior RBI approval.</span><o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 18.0pt; line-height: 107%;">The Cross Border Regulations,
2018 Makes International Merger And Acquisition Transactions More Flexible<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 18.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;">The notification of FEMA
regulations laying down the framework in relation to cross border mergers is an
extremely positive development, which should facilitate international merger
and acquisition transactions. Given that the guidelines deal with a new set of
transactions, they are likely to evolve based on practical experience, as may
be encountered in the due course of time.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: large;">The Salient Ingredients of the RBI Regulations are: </span><o:p></o:p></div>
<div class="MsoNormal">
<span style="font-size: large;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhD1KKxpV2Vwb7_jXDdl_LPARfC5ntGRVOkhVwLfKZZp6-1x-A33k3ROo-bYCBZILxY5BX8__37pYquC1gkulvdBzfrcvQ4duSu6tnRb768I7VXdkV4WC6LWB9Bu60Pb6GoFty9bVmZ0g/s1600/download+%25281%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " border="0" data-original-height="194" data-original-width="259" height="479" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhD1KKxpV2Vwb7_jXDdl_LPARfC5ntGRVOkhVwLfKZZp6-1x-A33k3ROo-bYCBZILxY5BX8__37pYquC1gkulvdBzfrcvQ4duSu6tnRb768I7VXdkV4WC6LWB9Bu60Pb6GoFty9bVmZ0g/s640/download+%25281%2529.jpg" title="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " width="640" /></a></div>
<div class="MsoNormal">
<span style="font-size: large;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: large;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 18.0pt; line-height: 107%;">The Meaning of Inbound
Merger<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;">The resulting company (or transferee) is in India in case of
inbound merger.</span><o:p></o:p></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 18.0pt; line-height: 107%;">The Meaning of Outbound
Merger<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;">The resulting company (or transferee) is a foreign company
in case of outbound merger.</span><o:p></o:p></div>
<div class="MsoNormal">
<span style="font-size: large;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcmDt9b15cu-PsbrYJFS2Pknvo8EKaixgJuKqLIlFy01Xb-TH6axPmo3cClzzD4wK3TL36AucR_f6Q9z19p1fWVLDsl-V5WIC7FnLh1ys59jsnytyz0-qVjJG3l8dzxGwCTTlXRIivvw/s1600/Presentation2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " border="0" data-original-height="720" data-original-width="1280" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcmDt9b15cu-PsbrYJFS2Pknvo8EKaixgJuKqLIlFy01Xb-TH6axPmo3cClzzD4wK3TL36AucR_f6Q9z19p1fWVLDsl-V5WIC7FnLh1ys59jsnytyz0-qVjJG3l8dzxGwCTTlXRIivvw/s640/Presentation2.jpg" title="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " width="640" /></a></div>
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<span style="font-size: large;"><br /></span></div>
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<b><span style="color: #0070c0; font-size: 18.0pt; line-height: 107%;">Procedure to be followed
by an Indian Company<o:p></o:p></span></b></div>
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<b><span style="color: #0070c0; font-size: 18.0pt; line-height: 107%;"><br /></span></b></div>
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<span style="font-size: large;"><span style="mso-spacerun: yes;"> </span>In an inbound merger,
the Indian company can issue securities in compliance of pricing guidelines and
within the limits of applicable sector cap and applicable regulations under
Foreign Management Act, 1999 (FEMA). </span><o:p></o:p></div>
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<span style="font-size: large;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhg6T_XeDB1wBz8LCyytxr__ALsWoZ4uHGA5FMB5vzAKMOk644P-uZd2T0y0G6QC84pLsWYEyHMoyXGWOBD5hJ2ZFc0c_Zd2X45zztD9j3X80mLF50Mt9EAj9tXFGtcJKq_5k-DK_5fbA/s1600/FDI.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " border="0" data-original-height="413" data-original-width="586" height="450" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhg6T_XeDB1wBz8LCyytxr__ALsWoZ4uHGA5FMB5vzAKMOk644P-uZd2T0y0G6QC84pLsWYEyHMoyXGWOBD5hJ2ZFc0c_Zd2X45zztD9j3X80mLF50Mt9EAj9tXFGtcJKq_5k-DK_5fbA/s640/FDI.png" title="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " width="640" /></a></div>
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<span style="font-size: large;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">Compliances under ECB
Regulations<o:p></o:p></span></b></div>
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<b><span style="color: #0070c0; line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;">A period of two years is provided for compliance with
External Commercial Borrowings (ECB) Regulations in respect of loans,
borrowings or guarantees of the transferor company outside India. </span><o:p></o:p></div>
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<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">Other Criteria<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;">Further any asset not permitted to be acquired under FEMA
needs to be disposed off twenty-four months immediately after merger.</span><o:p></o:p></div>
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<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">Deemed Branch Office <o:p></o:p></span></b></div>
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<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;"><br /></span></b></div>
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<span style="mso-spacerun: yes;"> </span><span style="font-size: large;">Offices of foreign
company will be deemed to be branch office of Indian company post-merger. </span><o:p></o:p></div>
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<span style="font-size: large;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivUTm2XM9-oNFoLEN5o32gRXdOuscbzeclUxdwtdeElleK_lGdi-yxbZ2b1WhYS73-7Ca_ZbmhHS44DuWZ_mZFUWxS2RCFo4zppbzs_3UgzCpCm5RyQPaRs5l2rnjzG-Cz_Pi2p2qzQA/s1600/Master.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " border="0" data-original-height="313" data-original-width="620" height="322" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEivUTm2XM9-oNFoLEN5o32gRXdOuscbzeclUxdwtdeElleK_lGdi-yxbZ2b1WhYS73-7Ca_ZbmhHS44DuWZ_mZFUWxS2RCFo4zppbzs_3UgzCpCm5RyQPaRs5l2rnjzG-Cz_Pi2p2qzQA/s640/Master.jpg" title="R V Seckar Consultant in FEMA ,Corporate Law & Insolvency Law " width="640" /></a></div>
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<span style="font-size: large;"><br /></span></div>
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<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">Outbound Merger<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;">The resident Indian is allowed to hold securities issued on
the basis of fair market value and in terms of Liberalized Remittance Scheme
(LRS) of RBI in the case of an outbound merger. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: large;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: large;">Foreign company can hold assets
in India in subject to compliance of FEMA. Offices of Indian company post-merger
will be deemed to be branches of the foreign company post-merger. </span><o:p></o:p></div>
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<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">VALUATION<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="mso-spacerun: yes;"> </span><span style="font-size: large;">Valuation of the
Indian company and the foreign company to be conducted by Valuers who are
members of a recognized professional body and further to be ensured that such
valuation is in accordance with internationally accepted principles on
accounting and valuation.</span></div>
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<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">REPORTING TO RBI<o:p></o:p></span></b></div>
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<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;"><span style="mso-spacerun: yes;"> </span>The resultant company
and/or the companies involved in the cross border merger shall be required to
furnish reports as may be prescribed by RBI. </span><o:p></o:p></div>
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<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">CERTIFICATION<o:p></o:p></span></b></div>
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<b><span style="color: #0070c0; line-height: 107%;"><span style="font-size: large;"><br /></span></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;"><span style="mso-spacerun: yes;"> </span>A certificate from
the Managing Director/Whole Time Director and Company Secretary, if available,
of the company concerned ensuring compliance to these Regulations shall be
furnished along with the application to be made to the NCLT for approval of the
scheme.</span><o:p></o:p></div>
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<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 16.0pt; line-height: 107%;">Regulatory actions in
respect of Non-Compliances under FEMA<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;"><span style="mso-spacerun: yes;"> </span>Regulatory actions,
if any, with respect to non-compliance, contravention under FEMA shall be
completed prior to merger by the companies involved in cross border merger. </span><o:p></o:p></div>
<div class="MsoNormal">
<span style="font-size: large;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;">Compensation<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="color: #0070c0; font-size: 22.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal">
<span style="font-size: large;">Compensation by the resultant company, to a holder of a
security of the Indian company or the foreign company, as the case may be, may
be paid, in accordance with the scheme sanctioned by the NCLT.<o:p></o:p></span></div>
<br />R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com1tag:blogger.com,1999:blog-2906868925660021667.post-33156886957127519302018-01-26T22:29:00.001-08:002018-01-26T22:29:13.928-08:00Changes in Consolidated FDI Policy 2017<div class="MsoNormal">
<br /></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial Black",sans-serif; font-size: 24.0pt; line-height: 107%;">Changes in Consolidated FDI Policy 2017<o:p></o:p></span></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Department of
Industrial Policy & Promotion release consolidated Foreign Direct
Investment (“FDI”) Policy every year, with amendment to bring in line with the
RBI guidelines and FEMA regulation and based on the requirement from Corporate,
towards ease of doing business and encouraging Foreign Investor at large, to
invest in Indian Corporate. <o:p></o:p></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRiYdDMRPjEOybD9giOxXjdmfDfQyF1sJNTNIZqDNSDTJr9hyR8hAVahN4hoBsDcRPHUgj3wRF3lEFSZrvpTNQ7pK7Q-hwZSeO1dHJmKmdqeC7V_WN2QFXdzOgK4NSHskMOExDFieeCA/s1600/images.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="162" data-original-width="312" height="332" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRiYdDMRPjEOybD9giOxXjdmfDfQyF1sJNTNIZqDNSDTJr9hyR8hAVahN4hoBsDcRPHUgj3wRF3lEFSZrvpTNQ7pK7Q-hwZSeO1dHJmKmdqeC7V_WN2QFXdzOgK4NSHskMOExDFieeCA/s640/images.jpg" width="640" /></a></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Last year,
Consolidated FDI Policy came into effective from August 28, 2017 and will be
effective till the next Consolidated FDI Policy come into force for 2018. To
bring in line with RBI guidelines and as amendments required, DIPP released
Press Note No. 1 (2018) dated January 23, 2018, amending few important clauses
in the Consolidated FDI Policy 2017.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Calibri Light",sans-serif; font-size: 22.0pt; line-height: 107%;"> Following are the brief summary of few
important amendments: <o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Calibri Light",sans-serif; font-size: 22.0pt; line-height: 107%;"><br /></span></b></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Prohibition
of restrictive conditions regarding audit firm<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Within
the FDI in Investee Companies, if Investor Company is intending to call for
Joint Audit, whereby one of the auditor should not be forming part of the
same audit network. Hence, this will increase the Corporate Governance check
on bring brands, where the Foreign Investor will have stake and decision
making power.<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">100%
FDI is allowed in NBFC<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Investment
by Foreign Investor in NBFC will no longer require Government approval. 100%
FDI is permitted in NBFC Companies under automatic route as against approval
route.<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Activity / Sector<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Administrative Ministry Department<o:p></o:p></span></b></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Application
involving instruments from Countries of Concern falling under automatic route
sectors/activities, requiring security clearance as per the extant FEMA 20,
FDI Policy and security guidelines, as amended from time to time<b><o:p></o:p></b></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Department
of Industrial Policy and Promotion<b><o:p></o:p></b></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Cases
pertaining to Government approval route sectors/activities requiring security
clearance as per the extant FEMA 20, FDI Policy and security guidelines, as
amended from time to time<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Nodal
Administrative Ministries / Departments<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
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<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial Black",sans-serif; font-size: 24.0pt; line-height: 107%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial Black",sans-serif; font-size: 24.0pt; line-height: 107%;">FOREIGN INVESTMENT IS ALLOWED IN AIR-INDIA NOW<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial Black",sans-serif; font-size: 24.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Existing policy
allowed foreign airlines to invest in the Indian aviation companies up to 49%
of capital, operating scheduled and non-scheduled air transport services,
subject to the approval from Government. This policy was not allowed to M/s.
Air India Limited. However, the restriction is removed from M/s. Air India
Limited with the amendment. <o:p></o:p></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaYdtQwdfeD4lj39n3RVQlumlGehZS9SwO2WUH-6t792_yP7SaHjhtpc-kEneVhKiSjgpQKQqs9PWk3zgH_PYRcXrA1mMjJpb2ESF-hpQXEzpIFKg6k21026rk04A6PMx5VNi5kMY_ow/s1600/images.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="151" data-original-width="335" height="288" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaYdtQwdfeD4lj39n3RVQlumlGehZS9SwO2WUH-6t792_yP7SaHjhtpc-kEneVhKiSjgpQKQqs9PWk3zgH_PYRcXrA1mMjJpb2ESF-hpQXEzpIFKg6k21026rk04A6PMx5VNi5kMY_ow/s640/images.png" width="640" /></a></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="color: red; font-family: "Arial Black",sans-serif; font-size: 24.0pt; line-height: 107%;">100% FDI IS ALLOWED IN THE REAL ESTATE BROKING SERVICES<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">100% FDI is allowed in
the real estate broking services (which does not tantamount to be real estate
business) </span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="color: red; font-family: "Arial Black",sans-serif; font-size: 24.0pt; line-height: 107%;">AMENDMENT IN
SINGLE BRAND RETAIL TRADING : <o:p></o:p></span></div>
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<span style="color: red; font-family: "Arial Black",sans-serif; font-size: 24.0pt; line-height: 107%;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">(i)<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">100%
FDI permitted<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">(ii)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Product
should sold out in single brand at international market as well<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">(iii)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Single
Brand means brand used during the manufacturing process<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">(iv)<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 225.4pt;" valign="top" width="301">
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Sourcing
of 30% of value of goods purchased by the Indian business, should be from
domestic market, after FDI above 51%. These are mandatory requirement and
duty of statutory auditor to check the accounting system to ensure the
procurement is done from the domestic market.<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">EXPANSION OF
ISSUE OF EQUITY SHARES FOR PRODUCTS IMPORTED <o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">In addition to the
existing conditions for conversion/issue of equity shares for sector(s) under
automatic route, issue of equity shares are allowed as against import of
capital goods, machinery, equipments, and pre-operative expenses, subject to
the approval from Government and filing of FC-GPR as per RBI reporting norms. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Courtesy : Mr Ashish
Baid <o:p></o:p></span></b></div>
R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-39613123779813898912017-12-11T03:41:00.000-08:002017-12-11T03:41:11.964-08:00THERE IS A STRONG NECESSITY OF UNIFORMITY BETWEEN FEMA AND COMPANIES ACT ,2013.<br />
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Franklin Gothic Demi", sans-serif; line-height: 107%;"><span style="color: red;">MY REQUEST HAS
BEEN ACCEPTED BY RBI AND NOW FEMA PROVISION FOR ALLOTMENT OF SHARES ARE MADE IN
LINE WITH COMPANIES ACT 2013 <b><o:p></o:p></b></span></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Franklin Gothic Demi",sans-serif; font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Franklin Gothic Demi",sans-serif; font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Franklin Gothic Demi",sans-serif; font-size: 14.0pt; line-height: 107%;">For details
,please click the following link:<o:p></o:p></span></div>
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<span style="font-family: "Franklin Gothic Demi",sans-serif; font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Franklin Gothic Demi",sans-serif; font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><a href="http://rvseckarfema.blogspot.in/2016/06/contradictions-between-companies-act.html">http://rvseckarfema.blogspot.in/2016/06/contradictions-between-companies-act.html</a><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 3; text-align: justify;">
<span style="color: #333333; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; mso-bidi-font-family: Arial; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">I POINTED OUT EARLIER MY POST, THAT THERE IS A CONTRADICTION
BETWEEN COMPANIES ACT AND FEMA FOR THE NUMBER OF DAYS WITHIN WHICH ALLOTTMENT
OF SHARES HAVE TO BE MADE<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 3; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">I PLEADED
THAT THERE IS A STRONG NECESSITY OF UNIFORMITY BETWEEN FEMA AND COMPANIES ACT ,2013.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<b><span style="color: red; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></b></div>
<div style="background: white; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: none; line-height: normal; margin-bottom: 0.0001pt; padding: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">Will the Government of India
through the Ministry of Commerce and Industry will amend the Industrial policy
issued in June 2016 by making amendment as “shares have to be allotted within
60 days of receipt of inward remittance by the non-resident investor.<o:p></o:p></span></div>
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: none; line-height: normal; margin-bottom: 0.0001pt; padding: 0cm; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: none; line-height: normal; margin-bottom: 0.0001pt; padding: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt;">This will go long way to remove
the confusions and misunderstandings as regards to number of days within which
the shares have to be allotted<o:p></o:p></span></div>
</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Now , The Reserve Bank
of India has clarified the query in relation to time limit of Allotment of
Shares for the Foreign Direct Investment received by the company through
notification no. FEMA 20(R)/2017-RB dated 07 November 2017.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm; text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">As per this
notification, Capital Instruments such as Equity, CCPs, CCDs shall be issued by
the Indian company to the Investors making foreign direct investment within
sixty (60) days from the date of receipt of the consideration.<o:p></o:p></span></div>
</div>
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<span style="background: yellow; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="background: yellow; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="background: yellow; font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%; mso-highlight: yellow;">Now , FEMA and Companies Act 2013 stresses that shares
shall have to be allotted within 60 days of the receipt of consideration.</span><span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-74725283847476121332017-11-03T00:18:00.000-07:002017-11-03T00:18:38.023-07:00Now, You have to compound the offence under FEMA for not filing the Annual Return on Foreign Liabilities and Assets (FLA return), by all Indian companies on July 15th Every year.<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b><span style="font-family: "Narkisim",sans-serif; font-size: 22.0pt; mso-bidi-font-family: Arial; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB; mso-hansi-font-family: Narkisim;">Now,
You have to compound the offence under FEMA for not filing the Annual Return on
Foreign Liabilities and Assets (FLA return), by all Indian companies on July 15<sup>th</sup>
Every year.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b><span style="font-family: "Narkisim",sans-serif; font-size: 22.0pt; mso-bidi-font-family: Arial; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB; mso-hansi-font-family: Narkisim;"><br /></span></b></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhllO8V1NO8D5grjLChCqE_7cLhzYfK9xtC86703a8v30dQ3HySJei64V6OUOv4s8Y0BeipM4sR8qhCtJsXFxhndQDXW6f4pw8NtOm9-2vLPy52HVHPLb27lpFSV3ezXXM-16OKObaQwA/s1600/download.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="122" data-original-width="411" height="188" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhllO8V1NO8D5grjLChCqE_7cLhzYfK9xtC86703a8v30dQ3HySJei64V6OUOv4s8Y0BeipM4sR8qhCtJsXFxhndQDXW6f4pw8NtOm9-2vLPy52HVHPLb27lpFSV3ezXXM-16OKObaQwA/s640/download.jpg" width="640" /></a></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<br /></div>
<div class="MsoNormal" style="line-height: normal; text-align: justify;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Earlier, there is no provision under FEMA for mandatory filing
of the Annual Return on Foreign Liabilities and Assets (FLA return), by all
Indian companies on July 15<sup>th</sup> Every year.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; text-align: justify;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></b></div>
<div class="MsoNormal" style="line-height: normal; text-align: justify;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Now, it has been made the filing of the Annual Return on
Foreign Liabilities and Assets (FLA return), by all Indian companies on July 15<sup>th</sup>
Every year as mandatory.<o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; text-align: justify;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></b></div>
<div class="MsoNormal" style="line-height: normal; text-align: justify;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">If you fail to file FLA with RBI on or before July 15<sup>th</sup>
Every year, you have to contravene the same with the Regional RBI. <o:p></o:p></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></b></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">The Relevant circular is reproduced below:<o:p></o:p></span></b></div>
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<br /></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgun0q-QqSSjDqAZGUcHy0jU709FmRVIFEaH-tB1FO-ptAeFuo0h-ANkLmll5_aEQrQnc0v_3PpKXk2J3C6n6KnXXL2lGPEn3TbWzESiiMVN93WS014TgMQbXQ5301TVQsYNGl34yO06Q/s1600/Annual%252BReturn%252Bof%252BLiabilities%252B%2526%252BAssets.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgun0q-QqSSjDqAZGUcHy0jU709FmRVIFEaH-tB1FO-ptAeFuo0h-ANkLmll5_aEQrQnc0v_3PpKXk2J3C6n6KnXXL2lGPEn3TbWzESiiMVN93WS014TgMQbXQ5301TVQsYNGl34yO06Q/s640/Annual%252BReturn%252Bof%252BLiabilities%252B%2526%252BAssets.jpg" width="640" /></a></div>
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<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></b></div>
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<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">BI/2016-17/220 A.P. (DIR
Series) Circular No. 29 February 02, 2017<br />
<!--[if !supportLineBreakNewLine]--><br />
<!--[endif]--><o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">To<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">All Category- I Authorised Dealer Banks<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Madam / Sir,<o:p></o:p></span></div>
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<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Foreign Exchange Management
Act, 1999 (FEMA)<br />
Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) -<br />
Compounding of Contraventions under FEMA, 1999<o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Attention of all the Authorised Dealer Category - I (AD
Category - I) banks and their constituents is invited to <a href="https://rbi.org.in/Scripts/NotificationUser.aspx?Id=8825&Mode=0" target="_blank"><span style="color: blue; text-decoration-line: none;">A.P. (DIR Series) Circular No. 117</span></a> and <a href="https://rbi.org.in/Scripts/NotificationUser.aspx?Id=9286&Mode=0" target="_blank"><span style="color: blue; text-decoration-line: none;">36</span></a> dated April 4, 2014 and October 16, 2014 respectively,
and the Foreign Exchange (Compounding Proceedings) Rules, 2000 notified by the
Government of India vide G.S.R.No.383 (E) dated 3rd May 2000, as amended from
time to time, regarding delegation of powers to the Regional Offices of the
Reserve Bank of India to compound the contraventions of FEMA.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">2. In partial modification thereof, it has been decided
to delegate further powers to Regional Offices as under:<o:p></o:p></span></div>
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<div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">FEMA Regulation<o:p></o:p></span></b></div>
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<div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: center;">
<b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Brief Description of
Contravention<o:p></o:p></span></b></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><a href="https://rbi.org.in/Scripts/BS_FemaNotifications.aspx?Id=174" target="_blank"><span style="color: blue; text-decoration-line: none;">Paragraph 9(2) of Schedule I to FEMA 20/2000-RB dated May 3, 2000</span></a><o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Delay in filing the Annual Return on Foreign
Liabilities and Assets (FLA return), by all Indian companies which have
received Foreign Direct Investment in the previous year(s) including the current
year<o:p></o:p></span></div>
</td>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">3. The powers to compound the contraventions at Paragraph
2 above have also been delegated to all Regional Offices (except Kochi and
Panaji) without any limit on the amount of contravention.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">4. Kochi and Panaji Regional offices can compound the
above contraventions for amount of contravention below Rupees One hundred lakh
(Rs.1,00,00,000/-) only. The contraventions of Rupees One hundred lakh
(Rs.1,00,00,000/) or more under the jurisdiction of Kochi and Panaji Regional
Offices will continue to be compounded at Central Office as hitherto.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">5. Accordingly, applications for compounding the above
contraventions as at Paragraph 2, up to the amount of contravention stated in
paragraph 3 and 4 may be submitted by the concerned entities to the respective
Regional Offices under whose jurisdiction they fall. For </span><b><span style="font-family: "Arial",sans-serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">all other</span></b><span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"> contraventions,
applications may continue to be submitted to Foreign Exchange Department, 5th
floor, Amar Building, Sir P.M.Road, Fort, Mumbai - 400001.<o:p></o:p></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgz0SeLrAgZga5TFqzL36s3K-T1SbtQDXbaSgejVfjiRgDORiTU8mkzesZMD05G6i-dGazPXqLuYJY9cAUyIm5HcyvgqysSWaxRtBGmjMqQeNC-Rycr37PvHIfvxuI9vDOuYMKsB3Tf-g/s1600/images+%25288%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="175" data-original-width="289" height="387" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgz0SeLrAgZga5TFqzL36s3K-T1SbtQDXbaSgejVfjiRgDORiTU8mkzesZMD05G6i-dGazPXqLuYJY9cAUyIm5HcyvgqysSWaxRtBGmjMqQeNC-Rycr37PvHIfvxuI9vDOuYMKsB3Tf-g/s640/images+%25288%2529.jpg" width="640" /></a></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">6. The above modifications will come into force with
immediate effect. All other instructions on compounding shall remain unchanged.
This provision is being clarified in Para 3 and 7.4 of the Master Direction on
Compounding of Contraventions under FEMA, 1999.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">7. Authorised Dealers may bring the contents of this
circular to the notice of their constituents and customers concerned.<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;"><br /></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">8. The directions contained in this circular have been
issued under Sections 10 (4) and 11 (1) of the Foreign Exchange Management Act,
1999 (42 of 1999).<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">Yours faithfully,<o:p></o:p></span></div>
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<span style="font-family: "Times New Roman",serif; font-size: 12.0pt; mso-bidi-language: TA; mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-GB;">(Shekhar Bhatnagar)<br />
Chief General Manager-in-Charge<o:p></o:p></span></div>
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R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-14954676106609140782017-11-02T04:10:00.001-07:002017-11-02T04:10:15.404-07:00RBI Levies a Whooping Fine of Rs 241.16 Crores on Essar Oil Limited.<div class="WordSection1">
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<b><span lang="EN-IN" style="color: #c00000; font-family: Aharoni; font-size: 28.0pt; line-height: 107%; mso-ansi-language: EN-IN; mso-bidi-font-family: Latha; mso-bidi-theme-font: minor-bidi; mso-effects-shadow-align: topleft; mso-effects-shadow-alpha: 100.0%; mso-effects-shadow-angledirection: 2700000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: #8FAADC; mso-effects-shadow-colortransforms: "lumm=60000 lumo=40000"; mso-effects-shadow-dpidistance: 3.0pt; mso-effects-shadow-dpiradius: 1.0pt; mso-effects-shadow-pctsx: 100.0%; mso-effects-shadow-pctsy: 100.0%; mso-effects-shadow-themecolor: accent5; mso-hansi-font-family: Aharoni; mso-style-textoutline-fill-alpha: 100.0%; mso-style-textoutline-fill-color: white; mso-style-textoutline-fill-themecolor: background1; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .75pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: solid;">RBI Levies a Whooping Fine of Rs 241.16 Crores on Essar Oil Limited.<o:p></o:p></span></b></div>
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<span style="background-color: yellow;"><span lang="EN-IN" style="font-family: Aharoni; font-size: 24.0pt; line-height: 107%; mso-ansi-language: EN-IN; mso-bidi-font-family: Latha; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Aharoni;">RBI levied a fine of Rs.</span><span lang="EN-IN" style="font-family: Aharoni; font-size: 36.0pt; line-height: 107%; mso-ansi-language: EN-IN; mso-bidi-font-family: Latha; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Aharoni;">241.16</span></span><span lang="EN-IN" style="font-family: Aharoni; font-size: 24.0pt; line-height: 107%; mso-ansi-language: EN-IN; mso-bidi-font-family: Latha; mso-bidi-theme-font: minor-bidi; mso-hansi-font-family: Aharoni;"><span style="background-color: yellow;"> crores on Essar Oil Limited for not reporting GDR
subscription amount of Rs.1500 crores in 2014-15 within period of 180 days of
the issue </span><o:p></o:p></span></div>
<div align="center" class="MsoBodyText" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 169.2pt; margin-right: 169.2pt; margin-top: 4.6pt; text-align: center;">
<span lang="EN-US">In the<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-size: 12.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">Reserve Bank of India <o:p></o:p></span></b></div>
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<span lang="EN-US">In the matter of<o:p></o:p></span></div>
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<br /></div>
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<b><span style="font-size: 12.0pt; line-height: 107%; mso-bidi-font-size: 11.0pt;">M/s Essar Oil Limited </span></b><o:p></o:p></div>
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<h1 align="center" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 169.4pt; margin-right: 169.2pt; margin-top: 0cm; text-align: center;">
<span lang="EN-US"><span style="font-size: small;">(Applicant)</span><o:p></o:p></span></h1>
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<b><span lang="EN-US">C.A No 675/2016 dated 28
April ,2017<o:p></o:p></span></b></div>
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<b><span lang="EN-US"><br /></span></b></div>
<div align="center" class="MsoBodyText" style="margin-top: .05pt; text-align: center;">
<b><span lang="EN-US"><span style="font-size: large;">Issue </span></span></b></div>
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<b><span lang="EN-US"><span style="font-size: large;"><br /></span></span></b></div>
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Company received GDR subscription amount of Rs.1500 crores in 2014-15 but reported to RBI after a delay of over one year and also allotment was made after a delay of over one year against prescribed period of 180days. RBI passed compounding order on 28.4.2017 for penalty of Rs.241.16 crores,</div>
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<h1 style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 216.45pt; margin-right: 0cm; margin-top: .4pt;">
<span lang="EN-US">Order<o:p></o:p></span></h1>
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<b><span lang="EN-US"> </span></b><span lang="EN-US" style="text-align: justify;">In exercise of the powers conferred under section 15(1) of the Foreign Exchange Management Act, 1999 and the Regulations/Rules/Notifications/Orders made thereunder, </span><span lang="EN-US" style="font-family: "Times New Roman", serif; text-align: justify;">I </span><span lang="EN-US" style="text-align: justify;">pass the following.</span></div>
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<span lang="EN-US" style="text-align: justify;"><br /></span></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">1.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">The applicant has filed the
compounding application dated December 20, 2016 (received at the Reserve Bank
on December 26, 2016) for compounding of contraventions of the provisions of
the Foreign Exchange Management Act, 1999 (the FEMA) and the regulations issued
thereunder. The contraventions sought to be compounded are (i) the equity
instruments were issued to the foreign investor, beyond 180 days of the receipt
of the inward remittance and (ii) delay in reporting receipt<span style="letter-spacing: .25pt;"> </span>of<span style="letter-spacing: .35pt;"> </span>foreign<span style="letter-spacing: .4pt;"> </span>inward<span style="letter-spacing: .35pt;"> </span>remittance<span style="letter-spacing: .5pt;"> </span>towards<span style="letter-spacing: .35pt;"> </span>subscription<span style="letter-spacing: .25pt;"> </span>to<span style="letter-spacing: .3pt;"> </span>equity,<span style="letter-spacing: .4pt;"> </span>in<span style="letter-spacing: .35pt;"> </span>terms<span style="letter-spacing: .25pt;"> </span>of<o:p></o:p></span></div>
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<span style="font-family: "Calibri",sans-serif; font-size: 12.0pt; line-height: 150%; mso-ansi-language: EN-GB; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-font-size: 11.0pt; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br clear="all" style="mso-break-type: section-break; page-break-before: always;" />
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<div class="MsoBodyText" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 5.45pt; margin-top: 4.6pt; text-align: justify;">
<span lang="EN-US">paragraphs 8 and 9(1)(A) respectively, of Schedule 1 to
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident
Outside India) Regulations 2000, notified vide Notification No. FEMA 20/2000-RB
dated May 3, 2000 as amended from time to time (hereinafter referred to as
Notification No. FEMA 20/2000-RB).<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraph" style="line-height: 150%; margin-right: 5.55pt; mso-list: l1 level1 lfo2; tab-stops: 39.3pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">2.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">The relevant facts of the case are
as follows: The applicant company was incorporated on September 12, 1989 under
the Companies Act, 1956 and is engaged in the business to engage in exploration
of oil and gas onshore and offshore, in India and elsewhere and to tap oil and
gas reserves and processing and marketing of oil, gas in India or elsewherever
found. The applicant received foreign inward remittance from M/s Essar Energy
Holding Limited, Mauritius towards GDR (Global Depository Receipts) issues and
reported the same to the Reserve Bank as indicated<span style="letter-spacing: -1.2pt;"> </span>below.<o:p></o:p></span></div>
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<table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; border: none; margin-left: 32.95pt; mso-border-alt: solid black .5pt; mso-border-insideh: .5pt solid black; mso-border-insidev: .5pt solid black; mso-padding-alt: 0cm 0cm 0cm 0cm; mso-table-layout-alt: fixed; mso-yfti-tbllook: 480;">
<tbody>
<tr style="height: 41.35pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid black 1.0pt; height: 41.35pt; mso-border-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 43.45pt;" valign="top" width="58">
<div align="left" class="TableParagraph" style="line-height: 13.55pt; margin: 0cm 0cm 0.0001pt 13.5pt;">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">Sr.<o:p></o:p></span></b></div>
<div align="left" class="TableParagraph" style="line-height: normal; margin: 0cm 0cm 0.0001pt 11.85pt;">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">No.<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid black 1.0pt; height: 41.35pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 173.1pt;" valign="top" width="231">
<div align="center" class="TableParagraph" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 11.7pt; margin-right: 11.4pt; margin-top: 0cm; text-align: center;">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">Amount of Foreign Inward
remittance<o:p></o:p></span></b></div>
<div align="center" class="TableParagraph" style="line-height: 13.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 11.6pt; margin-right: 11.4pt; margin-top: .2pt; mso-line-height-rule: exactly; text-align: center;">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">(INR)<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid black 1.0pt; height: 41.35pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 78.75pt;" valign="top" width="105">
<div align="left" class="TableParagraph" style="line-height: normal; margin: 0cm 17.7pt 0.0001pt 19.6pt; text-indent: -0.75pt;">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">Date of receipt<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid black 1.0pt; height: 41.35pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 104.45pt;" valign="top" width="139">
<div align="left" class="TableParagraph" style="line-height: normal; margin: 0cm 5.35pt 0.0001pt 6.25pt; text-indent: 25.3pt;">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">Date of
reporting to RBI<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="height: 13.75pt; mso-yfti-irow: 1;">
<td style="border-top: none; border: solid black 1.0pt; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 43.45pt;" valign="top" width="58">
<div class="TableParagraph" style="margin-right: 9.45pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">1.<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 173.1pt;" valign="top" width="231">
<div class="TableParagraph" style="margin-right: 4.9pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">839,16,76,740.00<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 78.75pt;" valign="top" width="105">
<div class="TableParagraph">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">30.06.2014<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 104.45pt;" valign="top" width="139">
<div class="TableParagraph" style="margin-right: 21.7pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">28.07.2014<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 13.9pt; mso-yfti-irow: 2;">
<td style="border-top: none; border: solid black 1.0pt; height: 13.9pt; mso-border-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 43.45pt;" valign="top" width="58">
<div class="TableParagraph" style="line-height: 12.9pt; margin-right: 9.45pt; mso-line-height-rule: exactly;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">2.<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.9pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 173.1pt;" valign="top" width="231">
<div class="TableParagraph" style="line-height: 12.9pt; margin-right: 4.9pt; mso-line-height-rule: exactly;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">193,98,92,000.00<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.9pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 78.75pt;" valign="top" width="105">
<div class="TableParagraph" style="line-height: 12.9pt; mso-line-height-rule: exactly;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">05.12.2014<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.9pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 104.45pt;" valign="top" width="139">
<div class="TableParagraph" style="line-height: 12.9pt; margin-right: 21.8pt; mso-line-height-rule: exactly;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">05.01.2015<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 13.75pt; mso-yfti-irow: 3;">
<td style="border-top: none; border: solid black 1.0pt; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 43.45pt;" valign="top" width="58">
<div class="TableParagraph" style="margin-right: 9.45pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">3.<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 173.1pt;" valign="top" width="231">
<div class="TableParagraph" style="margin-right: 4.9pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">213,23,19,650.00<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 78.75pt;" valign="top" width="105">
<div class="TableParagraph">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">12.12.2014<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 104.45pt;" valign="top" width="139">
<div class="TableParagraph" style="margin-right: 21.8pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">05.01.2015<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 13.75pt; mso-yfti-irow: 4;">
<td style="border-top: none; border: solid black 1.0pt; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 43.45pt;" valign="top" width="58">
<div class="TableParagraph" style="margin-right: 9.45pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">4.<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 173.1pt;" valign="top" width="231">
<div class="TableParagraph" style="margin-right: 4.9pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">254,13,88,250.00<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 78.75pt;" valign="top" width="105">
<div class="TableParagraph">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">09.01.2015<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 104.45pt;" valign="top" width="139">
<div class="TableParagraph" style="margin-right: 21.8pt;">
<span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">19.05.2016<o:p></o:p></span></div>
</td>
</tr>
<tr style="height: 13.75pt; mso-yfti-irow: 5; mso-yfti-lastrow: yes;">
<td style="border-top: none; border: solid black 1.0pt; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 43.45pt;" valign="top" width="58">
<div class="TableParagraph" style="margin-right: 8.9pt;">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">Total<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 173.1pt;" valign="top" width="231">
<div class="TableParagraph">
<b><span lang="EN-US" style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">1500,52,76,640.00<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 78.75pt;" valign="top" width="105">
<div align="left" class="TableParagraph" style="line-height: normal; margin-right: 0cm;">
<br /></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; height: 13.75pt; mso-border-alt: solid black .5pt; mso-border-left-alt: solid black .5pt; mso-border-top-alt: solid black .5pt; padding: 0cm 0cm 0cm 0cm; width: 104.45pt;" valign="top" width="139">
<div align="left" class="TableParagraph" style="line-height: normal; margin-right: 0cm;">
<br /></div>
</td>
</tr>
</tbody></table>
<div class="MsoBodyText" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 5.5pt; margin-top: 8.55pt; text-align: justify;">
<span lang="EN-US">The applicant stated that the company could not proceed
with the proposed GDR issue due to certain clarifications raised by SEBI for
previous GDR issues as well as due to changes in DR (Depository Receipts)
guidelines issued by Government of India. The applicant further stated that the
company approached Reserve Bank of India, Central Office, on May 11, 2016 for
refund of advance and receiving it back towards issuance of equity. <o:p></o:p></span></div>
<div class="MsoBodyText" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 5.5pt; margin-top: 8.55pt; text-align: justify;">
<span lang="EN-US" style="background: yellow; mso-highlight: yellow;">The
applicant reported receipt of remittance to the Reserve Bank with a delay of 1
year 3 months and 11 days approximately beyond the stipulated time of 30 days</span><span lang="EN-US"> in respect of remittances recorded at serial no.4 above. Whereas,
in terms of paragraph 9(1)(A) of Schedule 1 to Notification No. FEMA
20/2000-RB, an Indian company issuing shares or convertible debentures in
accordance<span style="letter-spacing: 1.5pt;"> </span>with<span style="letter-spacing: 1.5pt;"> </span>these<span style="letter-spacing: 1.5pt;"> </span>Regulations<span style="letter-spacing: 1.4pt;"> </span>should<span style="letter-spacing: 1.5pt;"> </span>report<span style="letter-spacing: 1.65pt;"> </span>foreign<span style="letter-spacing: 1.5pt;">
</span>inward<span style="letter-spacing: 1.5pt;"> </span>remittances<span style="letter-spacing: 1.5pt;"> </span>to<span style="letter-spacing: 1.5pt;"> </span>the<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKP1TZP53HlD6H74AH7yqTcuxD7G8bOCCoL9jwUSabf9jOZa5YBfp8JipvZlBlhK0KISa8dtvK0nlrnbWtO8MzGeOZ8L9EwaZq_-pn2AVhRgUaKdXj1-lCSZSjxaTrv85ASRyDEeEFvw/s1600/images+%25281%2529.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="194" data-original-width="259" height="299" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKP1TZP53HlD6H74AH7yqTcuxD7G8bOCCoL9jwUSabf9jOZa5YBfp8JipvZlBlhK0KISa8dtvK0nlrnbWtO8MzGeOZ8L9EwaZq_-pn2AVhRgUaKdXj1-lCSZSjxaTrv85ASRyDEeEFvw/s400/images+%25281%2529.png" width="400" /></a></div>
<span style="font-family: "Calibri",sans-serif; font-size: 11.0pt; line-height: 150%; mso-ansi-language: EN-GB; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br clear="all" style="mso-break-type: section-break; page-break-before: always;" />
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<span lang="EN-US">Reserve Bank of India as per the prescribed procedure
not later than 30 days from the date of receipt of the amount of consideration.<o:p></o:p></span></div>
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<br /></div>
<div class="MsoListParagraph" style="line-height: 150%; margin-right: 5.45pt; mso-list: l1 level1 lfo2; tab-stops: 41.95pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">3.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">The allotment of shares made on
February 10, 2017 amounting to Rs.1500,52,76,640/- was made after 180 days of
receipt of remittances with the approval of Reserve Bank. The company
approached Reserve Bank of India, Mumbai Regional Office, on January 03, 2017
for specific approval to issue shares against the advances received as above.
The Reserve Bank vide letter dated January 17, 2017 accorded approval for
issuance of shares and the transaction was completed on February 10, 2017 with
a delay ranging from 1 year 5 months 24 days to 2 years and 3 days
approximately. Whereas in terms of paragraph 8 of Schedule 1 to Notification
No. FEMA 20/2000-RB, and as amended from time to time, if the shares or
convertible debentures are not issued within 180 days from the date of receipt
of the inward remittance or date of debit to NRE/FCNR(B) account, <span style="letter-spacing: -.1pt;">the </span>amount of consideration so received
shall be refunded to the person concerned by outward remittance through normal
banking channels or by credit to his NRE/ FCNR(B) account, as the case may be;
provided further that the Reserve Bank may, on an application made to it and
for sufficient reasons permit an Indian company to refund the amount of
consideration received towards issue of security, if such amount is outstanding beyond a period of 180
days from the date of receipt. The amendment in paragraph 8 of Schedule 1 to
Notification No. FEMA 20/2000-RB was introduced by issue of Foreign Exchange
Management (Transfer or Issue of security by a person resident outside India)
(Third Amendment) Regulations, 2007 notified vide Notification No. FEMA
170/2007-RB dated 13th November 2007 in the official Gazette of the Government
of<span style="letter-spacing: -.05pt;"> </span>India.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmCHbTO2eipJ6Z36q2LBAWWnO8IeIdAfAFnt796eeWhLaDobRnZls7_yBOH2EA4LHXuGY13Z-QlGIdgnI0RDhbRLoIJpspZKStoa79OBnQ9rBOEFufMgwwJmHc_Bqga3aQFBjbBxr3Wg/s1600/images.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="168" data-original-width="300" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmCHbTO2eipJ6Z36q2LBAWWnO8IeIdAfAFnt796eeWhLaDobRnZls7_yBOH2EA4LHXuGY13Z-QlGIdgnI0RDhbRLoIJpspZKStoa79OBnQ9rBOEFufMgwwJmHc_Bqga3aQFBjbBxr3Wg/s400/images.png" width="400" /></a></div>
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<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">4.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">It is noted that the company
received advance remittances as detailed in para 2 above towards GDR issue.
However the company neither issued GDR/Shares nor refunded the amount to the
overseas remitter. The company approached Reserve Bank of India, Central
Office, only on May 11, 2016 with a delay ranging from 1 year 4<span style="letter-spacing: .6pt;"> </span>months<span style="letter-spacing: .5pt;"> </span>and<span style="letter-spacing: .65pt;"> </span>2<span style="letter-spacing: .6pt;"> </span>days<span style="letter-spacing: .55pt;"> </span>to<span style="letter-spacing: .6pt;"> </span>1<span style="letter-spacing: .6pt;"> </span>year<span style="letter-spacing: .5pt;"> </span>10<span style="letter-spacing: .5pt;"> </span>months<span style="letter-spacing: .8pt;"> </span>and<span style="letter-spacing: .65pt;"> </span>11<span style="letter-spacing: .6pt;"> </span>days<span style="letter-spacing: .55pt;"> </span>approximately<span style="letter-spacing: .4pt;"> </span>from<span style="letter-spacing: .5pt;"> </span>the<span style="letter-spacing: .5pt;"> </span>date.<o:p></o:p></span></div>
</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQq7c28yhV4CY3D9-a4MMgVOlmPAtvAMhRlTeleEJwapk_cnrVbhUotHQ5RZI0TgufHJXxl7FJE7DAPm40PUwwucCYTPedGOdZ5A7T0psGkvnXroniOX3PfSTvO_JqKncS3xuKQxghOw/s1600/images+%25288%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="175" data-original-width="289" height="242" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQq7c28yhV4CY3D9-a4MMgVOlmPAtvAMhRlTeleEJwapk_cnrVbhUotHQ5RZI0TgufHJXxl7FJE7DAPm40PUwwucCYTPedGOdZ5A7T0psGkvnXroniOX3PfSTvO_JqKncS3xuKQxghOw/s400/images+%25288%2529.jpg" width="400" /></a></div>
<span style="font-family: "Calibri",sans-serif; font-size: 12.0pt; line-height: 150%; mso-ansi-language: EN-GB; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-font-size: 11.0pt; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br clear="all" style="mso-break-type: section-break; page-break-before: always;" />
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<div class="WordSection4">
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<div class="MsoBodyText" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 6.05pt; margin-top: 4.6pt; text-align: justify;">
<span lang="EN-US">of receipt of remittances. It is further noted that the
company has retained the funds in the intervening<span style="letter-spacing: -.2pt;"> </span>period.<o:p></o:p></span></div>
<div class="MsoBodyText" style="margin-top: .05pt;">
<br /></div>
<div class="MsoListParagraph" style="line-height: 150%; mso-list: l1 level1 lfo2; tab-stops: 44.85pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">5.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">The applicant was given an
opportunity for personal hearing vide the Reserve Bank's letter No.
FED.MRO.CEFA/2016-17 dated April 07, 2017 for further submission in person
and/or producing documents, if any, in support of the application. The
applicant appeared for personal hearing on April 12, 2017 during which Mr.
Prahalad Pandit, General Manager, Essar Group and Mr. C.M. Bhatt, Vice President,
Finance represented the applicant. The representatives of the applicant
admitted the contraventions for which compounding has been sought. During the
personal hearing, it was submitted that the delay was inadvertent and
unintentional. They requested that in view thereof, the matter may be viewed
leniently. The application for compounding is, therefore, being considered on
the basis of the averments made in the application as well as other documents
and submissions submitted along with the<span style="letter-spacing: -.25pt;"> </span>application.<o:p></o:p></span></div>
<div class="MsoBodyText" style="margin-top: .55pt;">
<br /></div>
<div class="MsoListParagraph" style="line-height: 150%; mso-list: l1 level1 lfo2; tab-stops: 41.95pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">6.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.0pt; mso-hansi-font-family: Arial;">I </span><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">have
given my careful consideration to the documents on record and submissions made
by the applicant during the personal hearing and thereafter. Accordingly, </span><span lang="EN-US" style="font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.0pt; mso-hansi-font-family: Arial;">I </span><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">hold that the applicant has contravened the following
FEMA provisions issued in terms<span style="letter-spacing: -.2pt;"> </span>of:<o:p></o:p></span></div>
<div class="MsoListParagraph" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 5.7pt; margin-top: .1pt; mso-list: l0 level1 lfo1; tab-stops: 27.2pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="background: yellow; font-size: 12.0pt; line-height: 150%; mso-font-width: 99%; mso-highlight: yellow;">(a)<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;"> </span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">Paragraph
8 of Schedule 1 to Notification No. FEMA 20/2000-RB since<span style="letter-spacing: 1.75pt;"> </span>the <span style="background: yellow; mso-highlight: yellow;">shares were issued beyond 180 days from the date of
receipt of the inward remittance. The contravention relates to an amount of Rs.
1500,52,76,640/- and the duration of the contravention is ranging from 1 year 5
months and 24 days to 2 years and 3 days<span style="letter-spacing: 3.25pt;"> </span>approximately.<o:p></o:p></span></span></div>
<div class="MsoListParagraph" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 5.6pt; margin-top: .2pt; mso-list: l0 level1 lfo1; tab-stops: 24.2pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-font-width: 99%;">(b)<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">Paragraph 9(1)(A) of Schedule 1 to
Notification No. FEMA 20/2000-RB due to the delay in reporting of receipt of
foreign inward remittance towards subscription towards shares as detailed in
paragraph no. 2 above. The contravention relates to an amount of Rs.
254,13,88,250/- and the duration of contravention is 1 year 3 months and 11
days<span style="letter-spacing: 3.15pt;"> </span>approximately.<o:p></o:p></span></div>
</div>
<span style="font-family: "Calibri",sans-serif; font-size: 12.0pt; line-height: 150%; mso-ansi-language: EN-GB; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-font-size: 11.0pt; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br clear="all" style="mso-break-type: section-break; page-break-before: always;" />
</span>
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<div class="WordSection5">
<div class="MsoBodyText" style="margin-top: .2pt;">
<br /></div>
<div class="MsoListParagraph" style="line-height: 150%; margin-top: 4.6pt; mso-list: l1 level1 lfo2; tab-stops: 41.95pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">7.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">In terms of section 13 of the FEMA,
<span style="background: yellow; mso-highlight: yellow;">any person contravening
any provision of the Act shall be liable to a penalty up to thrice the sum
involved in such contraventions upon adjudication.</span> The applicant has
received remittances as detailed in paragraph 2 above as advance against GDR
issue. However the company neither issued the GDR/Shares nor refunded the
amount. The entire remittances (Rs 1500,52,76,640/-) were retained by the
applicant. The applicant approached Reserve Bank of India, Central Office, only
on May 11, 2016 with a delay ranging from 1 year 4 months 2 days to 1 year 10
months and 11 days approximately with the request to return the advance and
receive it back for issuance of equity shares. It is deemed that undue gain
have accrued to the applicant for the intervening period where the advances
were retained without due reckoning under schedule I, FEMA 20/2000-RB. With a
view to neutralize such undue gains to the applicant, the base rates of State
Bank of India have been notionally applied to determine the rate of interest
that would have been payable if the applicant
had sourced such advances through domestic borrowings. Therefore, taking into
account the relevant facts and circumstances of the case as stated in the
foregoing paragraphs, I am persuaded to take a view that undue gains made by
the applicant require to be neutralized and I consider that an amount of Rs.
241,16,30,941/- (Rupees Two Hundred Forty One Crore Sixteen Lakh Thirty
Thousand Nine Hundred Forty One only), incorporating the impact of
neutralization as above, will meet the ends of<span style="letter-spacing: -.35pt;">
</span>justice.<o:p></o:p></span></div>
<div class="MsoBodyText" style="margin-top: .5pt;">
<br /></div>
<div class="MsoListParagraph" style="line-height: 150%; margin-right: 5.65pt; mso-list: l1 level1 lfo2; tab-stops: 41.95pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="background: yellow; font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%; mso-highlight: yellow;">8.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">Accordingly, </span><span lang="EN-US" style="font-family: "Times New Roman",serif; font-size: 12.0pt; line-height: 150%; mso-bidi-font-family: Arial; mso-bidi-font-size: 11.0pt;">I </span><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">compound
the admitted contraventions namely, the contravention of paragraphs 8 and
9(1)(A) of Schedule 1 to Notification No. FEMA 20/2000-RB by the applicant as
stated above on the facts discussed above in terms of the Foreign Exchange
(Compounding Proceedings) Rules, 2000 on payment of an amount <span style="background: yellow; mso-highlight: yellow;">of Rs. 241,16,30,941/- (Rupees
Two Hundred Forty One Crore Sixteen Lakh Thirty Thousand Nine Hundred Forty One
only) which shall be deposited by the applicant with the Reserve Bank of India,
Foreign Exchange Department, Mumbai Regional Office, Main Building, 3rd floor,
Shahid Bhagat Singh Marg, Fort, Mumbai- 400001 by a demand draft drawn in
favour of the "Reserve Bank of India" and payable at “Mumbai” within
a period of 15 days from the date of this order. In case of<o:p></o:p></span></span></div>
</div>
<span style="font-family: "Calibri",sans-serif; font-size: 12.0pt; line-height: 150%; mso-ansi-language: EN-GB; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Latha; mso-bidi-font-size: 11.0pt; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;"><br clear="all" style="mso-break-type: section-break; page-break-before: always;" />
</span>
<br />
<div class="MsoBodyText" style="margin-top: .2pt;">
<br /></div>
<div class="MsoBodyText" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 5.65pt; margin-top: 4.6pt; text-align: justify;">
<span lang="EN-US">failure to deposit the compounded amount within the
above mentioned period, Rule 10 of the Foreign Exchange (Compounding
Proceedings) Rules, 2000 dated May 3, 2000 shall apply.<o:p></o:p></span></div>
<div class="MsoBodyText" style="margin-top: .2pt;">
<br /></div>
<div class="MsoListParagraph" style="line-height: 150%; mso-list: l1 level1 lfo2; tab-stops: 41.95pt; text-indent: 0cm;">
<!--[if !supportLists]--><span lang="EN-US" style="font-size: 12.0pt; letter-spacing: -1.7pt; line-height: 150%; mso-font-width: 99%;">9.<span style="font-size: 7pt; font-stretch: normal; font-variant-numeric: normal; line-height: normal;">
</span></span><!--[endif]--><span lang="EN-US" style="font-size: 12.0pt; line-height: 150%; mso-bidi-font-size: 11.0pt;">The above order is passed only in
respect of contraventions of Para 8 and 9(1)(A) of Schedule 1 to Notification
No. FEMA 20/2000-RB and does not restrict the right of any other authority to
proceed against the Company for any other violations/contraventions noticed at
any point of<span style="letter-spacing: -.4pt;"> </span>time.<o:p></o:p></span></div>
<div class="MsoBodyText" style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 5.9pt; margin-right: 0cm; margin-top: .1pt;">
<span lang="EN-US">The application
is disposed of accordingly.<o:p></o:p></span></div>
<div class="MsoBodyText">
<br /></div>
<div class="MsoBodyText" style="margin-top: .5pt;">
<br /></div>
<div class="MsoBodyText" style="margin-left: 5.9pt;">
<span lang="EN-US">Date: April 28,
2017<o:p></o:p></span></div>
<div class="MsoBodyText" style="margin-top: .05pt;">
<br /></div>
<h1 style="line-height: 207%; margin-right: 321.25pt;">
<span lang="EN-US"><span style="font-size: x-small;">Compounding
Authority Sd/-</span><o:p></o:p></span></h1>
<div class="MsoNormal" style="line-height: 13.1pt; margin-left: 5.9pt; mso-line-height-rule: exactly; text-align: justify;">
<b><span style="font-size: 12.0pt; mso-bidi-font-size: 11.0pt;">(Gautam Prasad Borah)<o:p></o:p></span></b></div>
<div class="MsoBodyText" style="margin-left: 5.9pt; text-align: justify;">
<span lang="EN-US">Chief General Manager<o:p></o:p></span></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com0tag:blogger.com,1999:blog-2906868925660021667.post-89530053094982153822017-04-29T00:43:00.000-07:002017-04-29T03:16:04.481-07:00Tata-DoCoMo case: Delhi HC okays $1.18-billion damages, Rejects RBI's plea<div class="MsoNormal" style="background: white; line-height: 33.75pt; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 1; text-align: justify;">
<span style="font-family: "georgia" , serif; font-size: 33pt;">Tata-DoCoMo
case: Delhi HC okays $1.18-billion damages, Rejects RBI's plea<o:p></o:p></span></div>
<div class="MsoNormal" style="background: white; line-height: 33.75pt; margin-bottom: .0001pt; margin-bottom: 0cm; mso-outline-level: 1;">
<br /></div>
<div class="MsoNormal" style="background: white; margin-bottom: .0001pt; margin-bottom: 0cm; mso-line-height-alt: 15.0pt; mso-outline-level: 2;">
<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">Upholds
settlement to realise London Court of International Arbitration's award in
favour of DoCoMo<o:p></o:p></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQ1N1bE0JVuYsvsoV-t-XXSPgZQP72Qaa5QChW62DSjz58wz1W_u53TDshPN8cllDyIrXKchd0BZE1VIT3AH9KRIJc1gtnOaoyPCdKv9FnR0jV4jxaTTTeDzv9DdSj1S1hq_3B6CooJg/s1600/images.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Tata-DoCoMo case" border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQ1N1bE0JVuYsvsoV-t-XXSPgZQP72Qaa5QChW62DSjz58wz1W_u53TDshPN8cllDyIrXKchd0BZE1VIT3AH9KRIJc1gtnOaoyPCdKv9FnR0jV4jxaTTTeDzv9DdSj1S1hq_3B6CooJg/s400/images.jpg" title="Tata-DoCoMo case" width="400" /></a></div>
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<b><span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">FACTS
OF THE CASE<o:p></o:p></span></b></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">Signalling
an end to a long-drawn regulatory tussle, the <span style="color: windowtext; text-decoration: none; text-underline: none;">Delhi High Court </span>(HC) on Friday upheld a settlement
agreement between <span style="color: windowtext; text-decoration: none; text-underline: none;">Tata </span>Sons and NTT <span style="color: windowtext; text-decoration: none; text-underline: none;">DoCoMo </span>to realise the $1.18-billion London Court of
International Arbitration (LCIA) award in favour of the Japanese telecom
giant. <o:p></o:p></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGFhiAHhsWiJu4mitqOVWpfSgHmN9SyQ-hIbCw5dhCW56CIt2-PIT3d12ZSjdQHgxUUEbQABBA8VUTHb_XDMwBkilEov5065fJQ7Iu75j5cK8IzZNdeysmkzhC7YyHx4Ta9wviuhRNjg/s1600/images+%25281%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Tata-DoCoMo case" border="0" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGFhiAHhsWiJu4mitqOVWpfSgHmN9SyQ-hIbCw5dhCW56CIt2-PIT3d12ZSjdQHgxUUEbQABBA8VUTHb_XDMwBkilEov5065fJQ7Iu75j5cK8IzZNdeysmkzhC7YyHx4Ta9wviuhRNjg/s400/images+%25281%2529.jpg" title="Tata-DoCoMo case" width="400" /></a></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">This
is a significant development as the <span style="color: windowtext; text-decoration: none; text-underline: none;">DoCoMo </span>settlement is learnt to have been priority for the
new <span style="color: windowtext; text-decoration: none; text-underline: none;">Tata </span>Sons chairman, N Chandrasekaran. <o:p></o:p></span></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">The <span style="color: windowtext; text-decoration: none; text-underline: none;">Tata </span>Teleservices-<span style="color: windowtext; text-decoration: none; text-underline: none;">DoCoMo </span>joint venture (JV) was scripted in 2008 when Ratan <span style="color: windowtext; text-decoration: none; text-underline: none;">Tata </span>was the chairman of the group.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUoB6F4aGl-DJLtlu1gTphln1YJDFcryDWWgAxFgd4fEbYBJg7iZElkV2nXQJzuB1IDOeuv_NZYFOIcO5IDzZJVVWnPwdtpwGkb3fcOp0b4lehVsmEU2TdLGONLK7AgEXzUPUVqBBGIA/s1600/images+%25282%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Tata-DoCoMo case" border="0" height="299" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUoB6F4aGl-DJLtlu1gTphln1YJDFcryDWWgAxFgd4fEbYBJg7iZElkV2nXQJzuB1IDOeuv_NZYFOIcO5IDzZJVVWnPwdtpwGkb3fcOp0b4lehVsmEU2TdLGONLK7AgEXzUPUVqBBGIA/s400/images+%25282%2529.jpg" title="Tata-DoCoMo case" width="400" /></a></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">Rejecting
the Reserve Bank of India (RBI) intervention in the enforcement proceedings,
Justice S Muralidhar pronounced the verdict after coming to the conclusion that
there was nothing contrary to any provision of Indian law in the February 2017
settlement plan submitted by the two <span style="color: windowtext; text-decoration: none; text-underline: none;">companies </span>to resolve their dispute. <o:p></o:p></span></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">“It
appears to be a well-settled legal position that parties to a suit, or as in
this case, an award, may enter into a settlement even at the stage of execution
of the decree or award,” said Justice Muralidhar in a single-Bench
judgment. <o:p></o:p></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiREderBub4jiDcDvpjqtnBV3TI0OXOAE4fwbICoKUXkk2RANr0OFjMHv1HQ8RasUojoQDusJl9DGqZ2H-M2bVJHMEuMZUQ8DUZZJsqDp65csR7X3vd0WOGIr-wCZHi6XuQxBvrX6IAEw/s1600/images+%25283%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Tata-DoCoMo case" border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiREderBub4jiDcDvpjqtnBV3TI0OXOAE4fwbICoKUXkk2RANr0OFjMHv1HQ8RasUojoQDusJl9DGqZ2H-M2bVJHMEuMZUQ8DUZZJsqDp65csR7X3vd0WOGIr-wCZHi6XuQxBvrX6IAEw/s640/images+%25283%2529.jpg" title="Tata-DoCoMo case" width="428" /></a></div>
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<b><span style="font-family: "calibri light" , sans-serif; font-size: 26.0pt;">Honouring
the International Covenants<o:p></o:p></span></b></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">Friday’s
decision held that the <span style="background: yellow; mso-highlight: yellow;">issue
of an Indian company honouring its commitment under a contract with a foreign
entity would have a bearing on its goodwill and reputation in the international
arena and have an indubitable impact on strategic relationships between countries.</span> <o:p></o:p></span></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">It
also concluded that a third party (the RBI) could not be allowed to oppose the
compromise arrived at between the two <span style="color: windowtext; text-decoration: none; text-underline: none;">companies </span>in such a manner.</span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiJB31GKAIbHCA5AivT2ETYEGerU4jkWXYvLsVhTWco0tZd0-xKzGXPccgN7VeXZ03rbl3FiTaKiC-whfsK8LHqkhH5syc73xH8dQF3_ExtzRDOe4t8_9Tus_b-k65IjcthLUcKqeLIOA/s1600/images+%25284%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Tata-DoCoMo case" border="0" height="488" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiJB31GKAIbHCA5AivT2ETYEGerU4jkWXYvLsVhTWco0tZd0-xKzGXPccgN7VeXZ03rbl3FiTaKiC-whfsK8LHqkhH5syc73xH8dQF3_ExtzRDOe4t8_9Tus_b-k65IjcthLUcKqeLIOA/s640/images+%25284%2529.jpg" title="Tata-DoCoMo case" width="640" /></a></div>
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<b><span style="font-family: "calibri light" , sans-serif; font-size: 26.0pt;">Grounds for RBIs Objection<o:p></o:p></span></b></div>
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<span style="background: yellow; font-family: "calibri light" , sans-serif; font-size: 16.0pt;">The <span style="color: windowtext; text-decoration: none; text-underline: none;">RBI </span>had opposed the enforcement of the <span style="color: windowtext; text-decoration: none; text-underline: none;">LCIA </span>award in the high court, saying it was void in law,
as it had failed to consider the existent regulatory prohibitions and would
effectively allow something that could not be done directly to be done in an
indirect manner.</span><span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;"> <o:p></o:p></span></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">According
to the RBI, the award was in violation of Regulation 9 of the Foreign Exchange
Management (Transfer or Issue of Security by a Person Resident Outside India)
Regulations, 2000 (as amended in 2013), which prohibited the transfer or sale
of shares at a price exceeding the market price of shares arrived at by any
international valuation methodology. The banking regulator had also said that
the award was in violation of Section 6 of the Foreign Exchange Management Act,
1999, which empowers the <span style="color: windowtext; text-decoration: none; text-underline: none;">RBI </span>to prohibit, restrict or regulate the transfer of any
security by a person outside India. <o:p></o:p></span></div>
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<span style="font-family: "calibri light" , sans-serif; font-size: 16.0pt;">Stating
that the award had allowed a restricted capital account transaction in the garb
of a breach of contract, the <span style="color: windowtext; text-decoration: none; text-underline: none;">RBI </span>had claimed that the award (and the settlement
agreement) was against the fundamental policy of India and incapable of
enforcement in any circumstance. The lawyer for the <span style="color: windowtext; text-decoration: none; text-underline: none;">RBI </span>had also highlighted its apprehensions of the issue
becoming a dangerous precedent for similar cases in the future, if the award
was eventually enforced.</span></div>
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<span style="background: white; font-family: "calibri light" , sans-serif; font-size: 16.0pt; line-height: 107%;">DoCoMo’s lawyer, senior advocate Kapil Sibal, had
opposed <span style="background: yellow; mso-highlight: yellow;">the<span class="apple-converted-space"> </span></span></span><span style="background: yellow; font-family: "calibri light" , sans-serif; font-size: 16.0pt; line-height: 107%;"><a href="http://www.business-standard.com/search?type=news&q=Rbi" style="box-sizing: border-box; outline: 0px; text-align: start;" target="_blank"><span style="color: windowtext; mso-bidi-font-family: Arial; mso-shading: white; text-decoration: none; text-underline: none;">RBI<span class="apple-converted-space"> </span></span></a></span><span style="background: yellow; font-family: "calibri light" , sans-serif; font-size: 16.0pt; line-height: 107%;"><span style="text-align: start;">stance by highlighting that the banking regulator
could not object to civil proceedings between two private parties for the
enforcement of a valid international arbitration award</span><span style="background: white; font-size: 16pt; line-height: 107%;">. After initially opposing the
enforcement, Tata’s counsel, senior advocate Darius Khambata, had also
supported the enforcement in line with their joint settlement agreement and
said that the realisation of the award would send a strong signal for future
foreign direct investments to come into India.</span><o:p></o:p></span></div>
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<span style="background: white; font-family: "calibri light" , sans-serif; font-size: 16.0pt; line-height: 107%;">However , if you go through my earlier blog posting on
the heading <o:p></o:p></span></div>
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<span style="background: white; font-family: "calibri light" , sans-serif; font-size: 16.0pt; line-height: 107%;">“Enforcement of a foreign arbitral award cannot be made
in India if it opposes the provisions of FEMA</span>” <o:p></o:p></div>
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<span style="font-size: x-large;"><br /></span></div>
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<span style="background: white; font-family: "calibri light" , sans-serif; line-height: 107%;"><a href="http://rvseckarfema.blogspot.in/2017/04/enforcement-of-foreign-arbitral-award.html"><span style="font-size: x-large;">http://rvseckarfema.blogspot.in/2017/04/enforcement-of-foreign-arbitral-award.html</span></a><span style="font-size: 16pt;"><o:p></o:p></span></span></div>
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<span style="background: white; font-family: "calibri light" , sans-serif; font-size: 16.0pt; line-height: 107%;">The same Delhi High Court has given a different
analysis and findings.<o:p></o:p></span></div>
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<span style="background: white; font-family: "calibri light" , sans-serif; font-size: 16.0pt; line-height: 107%;">More comments on the contradictions in the above
mentioned cases are always welcome. <o:p></o:p></span></div>
R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com3tag:blogger.com,1999:blog-2906868925660021667.post-11015142702678347002017-04-23T23:34:00.000-07:002017-04-23T23:34:03.647-07:00Enforcement of a foreign arbitral award cannot be made in India if it opposes the provisions of FEMA<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Cooper Black",serif; font-size: 28.0pt; line-height: 107%;">Enforcement of a foreign
arbitral award cannot be made in India if it opposes the provisions of FEMA <o:p></o:p></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">On 11 April 2017, the
Hon’ble High Court of Delhi (High Court), pronounced its judgment in a case
where the enforcement of a foreign arbitral award was opposed inter alia on the
ground that the enforcement of the said award would be contrary to the public
policy of India as it violated the provisions of the Foreign Exchange
Management Act, 1999 (FEMA). <o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiblAPUZ5sDX_XNwwDqKeRppjh0LfRWP7qd76mC5fZnkEI5c1uINnZ4EszSgkihS6z-JyIk39NK-JT1jNLWSL_bTuytQdCkLmB7hx2xviNI3_BA_W8EhHzxEy-pqqRmEVkytAd6UNErkw/s1600/images.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Enforcement of a foreign arbitral award in India " border="0" height="479" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiblAPUZ5sDX_XNwwDqKeRppjh0LfRWP7qd76mC5fZnkEI5c1uINnZ4EszSgkihS6z-JyIk39NK-JT1jNLWSL_bTuytQdCkLmB7hx2xviNI3_BA_W8EhHzxEy-pqqRmEVkytAd6UNErkw/s640/images.png" title="Enforcement of a foreign arbitral award in India " width="640" /></a></div>
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<b><span style="font-family: "Calibri Light",sans-serif; font-size: 22.0pt; line-height: 107%;">Factual
Background<o:p></o:p></span></b></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"> In 2008, Mauritius-based Cruz City 1 Mauritius
Holdings (Cruz City) entered into a Shareholders’ Agreement (SHA) dated 6 June
2008 with Cyprus-based Arsanovia Ltd. and Mauritius-based Kerrush Investments
Ltd. (Kerrush) under which Cruz City and Arsanovia Ltd. agreed to invest in
Kerrush, which in turn, agreed to invest in a real estate project captioned as
‘Santacruz Project’ in India. On the same date, Cruz City also entered into a
Keepwell Agreement with India-based Unitech Limited (Unitech) and
Mauritius-based Burley Holdings Ltd. <o:p></o:p></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeSzZd3OQwrdTIvTQW0x12erYYinRl6ANwJsZdybGTWpmfaz3sJ6r-GeCrb2esIRscVgW8kpBzUzEtw9b524l_n3-RbYBrenVBqNTfxmZVYa5DFnE8zL99uyzKMa3eRx4sc9AedQghEg/s1600/images+%25281%2529.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img alt="Enforcement of a foreign arbitral award in India " border="0" height="479" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeSzZd3OQwrdTIvTQW0x12erYYinRl6ANwJsZdybGTWpmfaz3sJ6r-GeCrb2esIRscVgW8kpBzUzEtw9b524l_n3-RbYBrenVBqNTfxmZVYa5DFnE8zL99uyzKMa3eRx4sc9AedQghEg/s640/images+%25281%2529.png" title="Enforcement of a foreign arbitral award in India " width="640" /></a></td></tr>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">(Burley), a wholly
owned subsidiary of Unitech. Unitech and Burley, although not parties to the
SHA, signed the SHA for confirmation of certain obligations accepted by them.
Under Clause 3.9.2 of the SHA, Cruz City was entitled to exercise a ‘put
option’ to call upon Arsanovia and Burley, to purchase all equity shares of
Kerrush held by it, at the purchase price that yield a post tax IRR of 15% on
the capital contribution made by Cruz City (Put Option). <o:p></o:p></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Owing to delays in
commencement of the construction of the Santa Cruz Project beyond a specified
period, Cruz City exercised the put option under the SHA. However, the put
option was not honoured and accordingly, Cruz City moved the London Court of
International Tribunal (LCIA) under the SHA as well as Keepwell Agreement. <o:p></o:p></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgImc8uAlDCCpTEtjgayaIU_VC5_JAUxoLAF_jBmIwRB7xb7GIpwu_DcR_uBrVbmwXtbdAbsiGHaU4ZXIynibDDXnOvaCkTntaCENsEr5PRABpVRJb_YD2KwTA1_7QLxJjoqxXdn04phw/s1600/images3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Enforcement of a foreign arbitral award in India " border="0" height="479" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgImc8uAlDCCpTEtjgayaIU_VC5_JAUxoLAF_jBmIwRB7xb7GIpwu_DcR_uBrVbmwXtbdAbsiGHaU4ZXIynibDDXnOvaCkTntaCENsEr5PRABpVRJb_YD2KwTA1_7QLxJjoqxXdn04phw/s640/images3.jpg" title="Enforcement of a foreign arbitral award in India " width="640" /></a></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">The LCIA Tribunal
passed an award in favour of Cruz City and inter alia directed Unitech and
Burley to pay Cruz City the purchase price for the shares held by Cruz City in
Kerrush against delivery of all such shares (Award). In view thereof, a
petition for the enforcement of the said Award was filed by Cruz City before
the High Court. Main Submissions on Behalf of Unitech The enforcement of the
Award was opposed by Unitech inter alia on the following grounds: FEMA, being an enactment of exchange control
laws in replacement of the Foreign Exchange Regulation Act, 1973 (FERA), would
form a part of the public policy of India.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Therefore, the
enforcement of the Award would be contrary to the public policy of India in
terms of Section 48(2)(b) of the Arbitration and Conciliation Act, 1996
(Arbitration Act) as it contravened the provisions of FEMA for the following
reasons: The obligation under the Keepwell Agreement was in the nature of a
guarantee issued by Unitech on behalf of Burley, which was not permissible
under the Foreign Exchange Management (Guarantees) Regulations, 2000. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">The SHA was structured
to ensure a pre-determined return on equity which was prohibited under FEMA as
it amounted to Foreign Direct Investment (FDI) on an assured return basis.
Reliance was placed on RBI circulars dated 9 January 2014 and 14 July 2014 to
contend that a foreign investor could exit the investment made in India only at
a valuation as on the date of exit. Further, as per the Foreign Exchange
Management (Permissible Capital Account Transactions) Regulations, 2000, the
shares of Kerrush could only be purchased at the fair market value of such
shares. The Award effectively directed Unitech to invest in the shares of
Kerrush, which could not be made without valuation of the shares by a
Category-I Merchant Banker/Investment Banker.<o:p></o:p></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrkR3u1buRTLcFELovBOSypdDtB4jpYlK6g8qLl1-jq2N88WLu-c023na3LOdDg_g2zbQd4eFtZMicuIZcIj4qWjzMcZGLf2NCFvYALoytCLq63uQgivhSUqVeqj5mHtAUwpnzwD1viA/s1600/images2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Enforcement of a foreign arbitral award in India " border="0" height="479" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrkR3u1buRTLcFELovBOSypdDtB4jpYlK6g8qLl1-jq2N88WLu-c023na3LOdDg_g2zbQd4eFtZMicuIZcIj4qWjzMcZGLf2NCFvYALoytCLq63uQgivhSUqVeqj5mHtAUwpnzwD1viA/s640/images2.jpg" title="Enforcement of a foreign arbitral award in India " width="640" /></a></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"> Thus, the Award was in violation of the
Foreign Exchange Management (Transfer or Issue of any Foreign Security)
Regulations, 2004. The Award in as much
as it directs Unitech to make payment against the delivery of shares of
Kerrush, in effect, directs Unitech to make an investment in Kerrush, which was
not permissible without the approval of the Reserve Bank of India (RBI). Cruz City had not claimed any relief that
Unitech purchase its shareholding in Kerrush. Consequently, no notice was
issued to Unitech either from Cruz City or the Arbitral Tribunal in respect of
any claim against Unitech. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Therefore, the Award
was beyond the relief claimed by Cruz City and without notice to Unitech and
hence, its recognition and enforcement ought to be declined in terms of
Sections 48(1)(b) and 48(1)(c) of the Arbitration Act. Main Submissions on
Behalf of Cruz City The Award did not
require Unitech to purchase the shares of Kerrush but only to pay the purchase
price in accordance with Unitech’s obligations under the Keepwell Agreement. Violation of FEMA would not amount to a
violation of public policy under Section 48(2)(b) of the Arbitration Act.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"> In any case, there was no violation of FEMA in
entering into the Keepwell Agreement. Further, the question whether any permissions
from the RBI were required for remitting of the money recovered from Unitech in
the enforcement of the Award, would be a question to be addressed after the
amount awarded had been recovered. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"> Unitech was precluded from raising any plea to
the effect that the Keepwell Agreement was illegal or that the approval of the
RBI had not been obtained since, under the Keepwell Agreement, Unitech had
expressly represented that the transactions were in compliance with all
applicable laws. Unitech was also
precluded from raising the objection that it was not given an opportunity to
present its case on the principles of res judicata since it was open for
Unitech to raise these issues before the Court in the United Kingdom (UK),
wherein it had challenged the Award or before the Arbitral Tribunal.<o:p></o:p></span></div>
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<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 20.0pt; line-height: 107%;">Decision
of the High Court, New Delhi<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 20.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">The High Court
rejected the objections raised by Unitech against the enforcement of the Award
and decided the issues as follows: On whether Unitech was required to purchase
the shares of Kerrush The premise that
the Award requires Unitech to purchase the shares of Kerrush is fundamentally
flawed. The Arbitral Tribunal having found that Unitech had breached its
obligations, directed it to pay the purchase price. The Award only seeks to
enforce Unitech’s obligations undertaken under the Keepwell Agreement. There is
no stipulation in the Award that the shares must be delivered only to Unitech.
Although, the Award requires Burley and Unitech to pay the purchase price, it
does not require that the delivery of shares of Kerrush be made to Unitech and
not Burley. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"> The payment of purchase price for the shares
of Kerrush by Unitech would be on behalf of Burley which is in conformity with
the obligations that were undertaken by Unitech in the Keepwell Agreement. On
violation of FEMA ipso jure being in conflict with Public Policy The objections to enforcement on the ground of
public policy must be such that offend the “core values of a member State's
national policy and which it cannot be expected to compromise”. A simpliciter violation of any particular
provision of FEMA cannot be considered synonymous to offending the fundamental
policy of Indian law. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">The expression
“fundamental policy” must mean only the fundamental and substratal legislative
policy and not a provision of any enactment. There has been a material change in the
fundamental policy of exchange control as enacted under FERA and as now
contemplated under FEMA. The objective of FERA was to ensure that the nation
does not lose foreign exchange essential for economic survival of the nation
whereas under FEMA, the focus had shifting from prohibiting transactions to a
more permissible environment. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"> The enforcement of a foreign award will
invariably involve considerations relating to exchange control or remittance
outside the country for enforcement of foreign award or the initial agreement
pursuant to which award required permission of RBI. However, these concerns can
be addressed by ensuring that no funds are remitted outside India from RBI,
which addresses the issue of public interest and foreign exchange. Thus, the High Court held that the question of
declining enforcement on the ground of a simpliciter violation of any provision
of FEMA cannot be considered synonymous to offending the fundamental policy of
Indian Law but, any remittance of money recovered from Unitech in enforcement
of Award would necessarily require compliance of regulatory provision and/or
permissions. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">On whether the Award
violated the provisions of FEMA The
Award does not contravene the Foreign Exchange Management (Guarantees)
Regulations, 2000 since Regulation 5 specifically permits the giving of
guarantees in certain circumstances, including by a company in India for and on
behalf of a wholly owned subsidiary. In the instant case, Burley is a wholly
owned subsidiary incorporated by Unitech in Mauritius and, therefore, it was
entitled to give guarantees for Burley’s business to stand as surety for
obligations undertaken by Burley within the limits prescribed in the Foreign
Exchange Management (Transfer or Issue of any Foreign Security) Regulations,
2004.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Unitech cannot take
the argument that Burley has no business and therefore, Regulation 5 (b) of the
Foreign Exchange Management (Guarantees) Regulations, 2000 would not be
applicable since it is not bonafide, a complete afterthought and runs contrary
to the express representations made by Unitech in the Keepwell Agreement. On
whether the SHA provided an assured return.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">The Put Option was not
an open ended assured exit option and could be exercised only within a
specified time and was contingent on the Santa Cruz project not being commenced
within the prescribed period. RBI only
restricts assured return instruments brought in India under the guise of
equity. However, in the present case, Cruz City is only seeking to enforce its
obligations against Burley. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Even if it is accepted
that the Keepwell Agreement was designed to induce Cruz City to make
investments by offering assured returns, Unitech cannot escape its liability as
Cruz City had invested in Kerrush on the assurances held out by Unitech. Hence,
even if Unitech may be liable to be proceeded against for violation of
provisions of FEMA, the enforcement of the Award cannot be declined. On whether
Unitech was precluded from raising the plea that it was unable to present its
case.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">The principle of res
judicata is applicable only where the issue/controversy is finally considered
and decided by a ‘court of competent jurisdiction’ and the question whether the
award will be recognised/enforced in India cannot be adjudicated by any other
forum in any country except the courts of India.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 22.0pt; line-height: 107%;">The
Learning from the Case<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 22.0pt; line-height: 107%;"><br /></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;"> This judgment rendered by the High Court may
have far reaching consequences for other pending disputes on similar issues.
The High Court came down heavily on Unitech and observed that it must ‘bear the
consequences of violating the provisions of law, but cannot be permitted to
escape their liability under the Award’. The message is that parties representing
that the transaction is in compliance with all applicable laws cannot be
permitted to derogate from their obligations under the contract in the garb of
an alleged violation of a provision of law at a later stage. Further, this
again reflects the approach of the courts in India to not interfere in the
arbitral proceedings and awards.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<br />
<div class="MsoNormal" style="text-align: justify;">
<b><span style="font-family: "Calibri Light",sans-serif; font-size: 16.0pt; line-height: 107%;">Courtesy : Sanjeev
Kapoor (Partner), Aakash Bajaj (Senior Associate) and Aayush Jain (Associate)
of khaitan & Co <o:p></o:p></span></b></div>
R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com1tag:blogger.com,1999:blog-2906868925660021667.post-62376421417216898302017-03-10T22:57:00.003-08:002017-03-10T23:19:35.921-08:00 Now 100% FDI is Allowed for B2B E-commerce activities<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-size: 22.0pt; line-height: 107%;">No. FEMA.387/2017-RB<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-size: 22.0pt; line-height: 107%;">Foreign Exchange Management (Transfer
or Issue of Security by a Person Resident outside India) (Fourth Amendment)
Regulations, 2017<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="font-size: 22.0pt; line-height: 107%;"><br /></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; font-family: "arial black" , sans-serif; font-size: 22.0pt; line-height: 107%;">Now 100% FDI is Allowed for B2B E-commerce
activities</span><span style="font-family: "arial black" , sans-serif; font-size: 22.0pt; line-height: 107%;"><o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="text-align: center;">
<span style="background: yellow; font-family: "arial black" , sans-serif; font-size: 22.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">“(ii E)
E-commerce: <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;">a. ‘E-commerce’ means buying and selling of goods and
services including digital products over digital & electronic network.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"> b. ‘E-commerce entity’
means a company incorporated under the Companies Act, 1956 or the Companies
Act, 2013 or a foreign company covered under section 2 (42) of the Companies
Act, 2013 or an office, branch or agency in India as provided in Section 2 (v)
(iii) of FEMA 1999, owned or controlled by a person resident outside India and
conducting the e-commerce business. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhShTxbx3txKAx_TX_XvOBfPph7bD-Jtm7-yTVHn9JjNwAW30skI8KWhpdhgXZxw2bsV23yn781K8A4FhI6x64-MfXfRme4BaqTPIx9rHaWykRdyIUSvuN-OOSrC7k1cACr5SmOVEGCgQ/s1600/images+%252817%2529.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="406" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhShTxbx3txKAx_TX_XvOBfPph7bD-Jtm7-yTVHn9JjNwAW30skI8KWhpdhgXZxw2bsV23yn781K8A4FhI6x64-MfXfRme4BaqTPIx9rHaWykRdyIUSvuN-OOSrC7k1cACr5SmOVEGCgQ/s640/images+%252817%2529.jpg" width="640" /></a></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;">c. ‘Inventory based model of e-commerce’ means an e-commerce
activity where inventory of goods and services is owned by e-commerce entity
and is sold to the consumers directly. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;">d. ‘Market place model of e-commerce’ means providing of an
information technology platform by an ecommerce entity on a digital &
electronic network to act as a facilitator between buyer and seller.” <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJwYSuT8WaoF0opfssD_GzRlwUJutr_0G9g9NGwUqWUCPs91mmNBpxlaxH1pBQ-67ZYqya1yYyFS5mJp7lZtnupRFc7G9UAN6YSJxBzqKSOhwqLzdiVv1hTkPTrzD7buyHy55ku6O0uQ/s1600/images1.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="372" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJwYSuT8WaoF0opfssD_GzRlwUJutr_0G9g9NGwUqWUCPs91mmNBpxlaxH1pBQ-67ZYqya1yYyFS5mJp7lZtnupRFc7G9UAN6YSJxBzqKSOhwqLzdiVv1hTkPTrzD7buyHy55ku6O0uQ/s640/images1.png" width="640" /></a></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;">3. Amendment of Schedule 1 In the Foreign Exchange Management
(Transfer or Issue of Security by a Person Resident outside India) Regulations,
2000, (Notification No. FEMA 20/2000-RB dated 3rd May 2000), in Schedule 1, in
the existing Annex B, the existing entry 16.2 shall be substituted by the
following: <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.3pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">16.2<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 121.9pt;" valign="top" width="163"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">E-Commerce<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 121.2pt;" valign="top" width="162"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">% of equity/FDI Cap<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.4pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">Entry route<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 108.3pt;" valign="top" width="144"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">16.2.1<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 121.9pt;" valign="top" width="163"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">B2B E-commerce activities<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 121.2pt;" valign="top" width="162"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">100 %<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 99.4pt;" valign="top" width="133"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">Automatic<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm;">
<span style="font-size: 14.0pt; line-height: 107%;">Such companies would engage only in Business to
Business (B2B) e-commerce and not in retail trading, inter alia implying that
existing restrictions on FDI in domestic trading would be applicable to
e-commerce as well. <o:p></o:p></span></div>
</div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 91.9pt;" valign="top" width="123"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">16.2.2<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.5pt;" valign="top" width="178"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">Market place model of e-commerce<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.7pt;" valign="top" width="150"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">100 %<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.7pt;" valign="top" width="150"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">Automatic<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 91.9pt;" valign="top" width="123"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">16.2.3<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 133.5pt;" valign="top" width="178"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">Other Conditions<o:p></o:p></span></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.7pt;" valign="top" width="150"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.7pt;" valign="top" width="150"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">a) Digital
& electronic network will include network of computers, television channels
and any other internet application used in automated manner such as web pages,
extranets, mobiles etc.<o:p></o:p></span><br />
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcfyr5MQ814zap8c5O6KpThLrEDxzVnyeQfMeRwv1yO4_E1PV8nS7e16YmTkcjbSnugCkva9XNxrXyHrK8TQ6iZ2Ukx8yd675wl2cxC1rolIZVoJ2aeetDimbcwYj2RAWIujDId8c65Q/s1600/intershop_report_2_big.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="454" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcfyr5MQ814zap8c5O6KpThLrEDxzVnyeQfMeRwv1yO4_E1PV8nS7e16YmTkcjbSnugCkva9XNxrXyHrK8TQ6iZ2Ukx8yd675wl2cxC1rolIZVoJ2aeetDimbcwYj2RAWIujDId8c65Q/s640/intershop_report_2_big.jpg" width="640" /></a></div>
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"> b) Marketplace e-commerce entity will be
permitted to enter into transactions with sellers registered on its platform on
B2B basis.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"> c) E-commerce marketplace may provide support
services to sellers in respect of warehousing, logistics, order fulfilment,
call centre, payment collection and other services. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">d)
E-commerce entity providing a marketplace will not exercise ownership over the
inventory i.e. goods purported to be sold. Such an ownership over the inventory
will render the business into inventory based model. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">e) An
e-commerce entity will not permit more than 25% of the sales value on financial
year basis affected through its marketplace from one vendor or their group
companies.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">f)
Goods/services made available for sale electronically on website should clearly
provide name, address and other contact details of the seller. Post sales,
delivery of goods to the customers and customer satisfaction will be
responsibility of the seller. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">g) Payments
for sale may be facilitated by the e-commerce entity in conformity with the
guidelines of the Reserve Bank of India.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"> h) Any warranty /guarantee of goods and
services sold will be responsibility of the seller.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"> i) E-commerce entities providing marketplace
will not directly or indirectly influence the sale price of goods or services
and shall maintain level playing field.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"> j) Guidelines on cash and carry wholesale
trading as given in S.No. 16.1.2 (stated above) shall apply to B2B e-commerce
activities.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;"> <span style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm;">Note: FDI is not permitted in
inventory based model of e-commerce</span><o:p></o:p></span></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 42.3pt;" valign="top" width="56"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">16.2.4<o:p></o:p></span></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 408.5pt;" valign="top" width="545"><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="font-size: 14.0pt;">Sale of services through e-commerce
shall be under automatic route subject to the sector specific conditions,
applicable laws/regulations, security and other conditionalities.<o:p></o:p></span></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<span style="font-size: 14.0pt; line-height: 107%;">Reference<o:p></o:p></span></div>
<br />
<div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;">
<div class="MsoNormal" style="border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0cm;">
<span style="font-family: "calibri light" , sans-serif; font-size: 14.0pt; line-height: 107%;"> G.S.R. 224 (E).—In exercise of the powers
conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the
Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India
hereby makes the following amendments in the Foreign Exchange Management
(Transfer or issue of Security by a Person Resident outside India) Regulations,
2000 (Notification No. FEMA. 20/2000-RB dated 3rd May 2000) namely:-<o:p></o:p></span></div>
</div>
R V S PROFILEhttp://www.blogger.com/profile/03754959185704781472noreply@blogger.com2