RBI Revises FC-GPR Form for FDI Reporting

RBI/2006-2007/336 A. P. (DIR Series) Circular No.40 April  20, 2007 To All Category - I Authorised Dealer Banks Madam / Sir, Reporting under FDI Scheme - Revised Form FC-GPR Attention of Authorised Dealer Category-I (AD Category - I) banks is invited to the 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 (the Notification), as amended from time to time. In terms of para 9 (1) B of Schedule I to the Notification, Indian companies are required to report the details of Foreign Direct Investment (FDI) in Form FC-GPR to the Regional Office of RBI within whose jurisdiction the Registered Office of the Company operates, within 30 days of issue of shares. 2. In order to capture the details of FDI in a comprehensive manner, Form FC-GPR has been revised in consultation with the Government of India. Accordingly, the details of FDI should, henceforth, be reported in the revised Form FC-GPR, enclosed as Annex . 3. As per the revised format, details of FDI are required to be furnished in Part A and Part B . Part A has to be filed by the Company, through AD Category – I bank, to the concerned Regional Office of RBI. Part B, which is an annual report of all investments made in the company during a financial year, is required to be submitted directly by the Company to the Director, Balance of Payment Statistical Division, Department of Statistical Analysis & Computer Services, Reserve Bank of India, C 9, 8th floor, Bandra-Kurla Complex, Bandra (E), Mumbai 400 051,  by 30th June every year. 4. The AD Category – I bank in India, receiving the remittance should obtain a KYC report in respect of the foreign investor from the overseas bank remitting the amount. If the AD Category – I bank receiving the remittance is different from the AD Category – I bank forwarding Form FC-GPR, the latter should file Form FC-GPR along with a certificate from the former of having received the inward remittance and the KYC report. 5. Necessary amendments to the 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 will be issued separately.  6. AD Category - I banks may bring the contents of this circular to the notice of their constituents and customers concerned.  7. 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) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (Salim Gangadharan) Chief General Manager [Annex to A. P. (DIR series) Circular No. 40  dated April 20, 2007] Annex FC-GPR PART - A (To be filed by the company through its Authorised Dealer Category – I bank with the Regional Office of the RBI under whose jurisdiction the Registered Office of the company making the declaration is situated as and when fresh investment in the Company is received, along with the following documents: i) A certificate from the Company Secretary of the company accepting investment from persons resident outside India ii) A certificate from Statutory Auditors or Chartered Accountant indicating the manner of arriving at the price of shares issued to the persons resident outside India (as specified in para 9 B of Schedule I to Notification No. FEMA 20/2000-RB dated May 3, 2000.) PAN Number

Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2006-2007/336 · issued 20 Apr 2007. The plain-English explanation above is BankPulse’s own independent summary.

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