9911796707
TMI BlogRBI delegates Compounding Powers under FEMA to its Regional OfficesX X X X Extracts X X X X X X X X Extracts X X X X ..... RBI delegates Compounding Powers under FEMA to its Regional Offices X X X X Extracts X X X X X X X X Extracts X X X X ..... of FEMA 1999. The contraventions include: (i) delay in reporting of inward remittance, (ii) delay in filing of form FC-GPR after allotment of shares and (iii) delay in issue of shares beyond 180 days. (i.e. paragraphs 9(1)(A), 9(1)(B) and 8, respectively, of Schedule I to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000, notified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide Notification No. FEMA 20/2000-RB dated May 3, 2000 and as amended from time to time). The powers delegated are: Contraventions Regional Offices Amount of Contravention a) Delay in reporting of inward remittance and delay in filing of form FC-GPR after allotment of shares Bhopal, Bhubaneshwar, Chandigarh, Guwahati, Jaipur, Jammu, Kanpur, Kochi, Patna and Panaji Below Rupees One Crore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... only
b)
Delay in reporting of inward remittance, delay in filing of form FC-GPR after allotment of shares and delay in issue of shares beyond 180 days
Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai and New Delhi
Without any limit
Detailed instructions in this regard are given in A.P. (DIR Series) Circular No. 57 dated December 13, 2011.
Alpana Killawala
Chief General Manager X X X X Extracts X X X X X X X X Extracts X X X X ..... News - Press release - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
