What should be done after investment is made under the Automatic Route or SIA / FIPB approval?
Ans. The Indian company has to follow a two-stage reporting procedure. In the first stage, the company should make a report on plain paper to the concerned Regional Office of RBI within 30 days of receipt of funds. The report should include the name & address of foreign investor, date of receipt of funds and the amount (in rupees), name and address of the bank through whom funds are received and details of the Government approval, if any. In the second stage, the Indian company has to file a report in Form FC-GPR together with two certificates, one from Company Secretary certifying adherence to regulations etc. and the other from a Chartered Accountant indicating the manner of arriving at the issue price of shares along with a copy of the resolution passed by members of the Company authorizing foreign investment, a copy of the resolution passed by Board of Directors allotting shares to the foreign investors and foreign inward remittance certificate received from banker, Q. At what pric
