Made By:
CS Bhavesh Thadani Page | 1
Checklist for filing of Form FC-GPR (Foreign Currency Gross Provisional Return)
Check whether:
1.
The transaction being reported in Form FC
-
GPR is for Issue of capital instruments by an Indian
Company to a person resident outside India.
Check whether the capital instruments viz. Equity shares/Compulsorily Convertible Preference
Shares/Compulsorily Convertible Debentures are only issued.
2.
The Foreign Investment is subject to Consolidated FDI Policy
(relating to sectoral caps and
whether entry is through automatic or approval route, pricing guidelines etc.) and
The securities issued are in accordance with the provisions of Foreign Exchange Management
Act, 1999, Companies Act, 2013 and SEBI Regulations and other applicable laws and rules made
thereunder.
3.
The FDI has come through
-
By inward remittance through normal banking channels; or
By debit to NRE/FCNR account of the person concerned maintained with an authorized dealer.
4.
Whether FIRC Copies and KYC report has been issued by Authoriz
ed dealer bank of the non
-
resident investor.
In case, if amount is received from NRE account then instead of FIRC Bank has issued NRE
letter
5
.
The transaction
is reported by the Investee Company issuing its securities to the non
-
resident
investor within 30 days from the date of allotment.
6
.
The applicant reporting for the transaction has
Regist
ered
for Entity User and for Business User
in Single Master Form at FIRMS Portal.
7
.
The applicant has
Log
ged into Single Ma
s
ter Form
and reaches out to workspace.
The applicant has selected the Return Type as FC-GPR.
8
.
Entity Details:
The Investee Company details like CIN, Company Name, PAN details are pre-filled while some
other details like entry route, applicable sectoral cap/statutory ceiling will have to be reported
separately.
9
.
The following
Issue Details
are provided
:
Date of Issue
Nature of Issue
Initial FC-GPR Reference No. in case of subsequent filing.
Whether the change in the shareholding pattern due to this transaction being reported has
already been accounted in the pre-transaction shareholding pattern, select yes or no.
10
.
Details of the Foreign Investors are properly filled:
General details such as number of investors, Name, Address, Country of residence,
Constitution/nature of the investing entity.
Remittance details like Name & Address of AD Bank, Mode of Payment, Date and Amount of
remittance, FIRC Number are filled. FIRC Copies, KYC Reports, Debit Statement are attached.
11.
Details relating to the Amount of Issue:
Total Amount of Inflow;
Total amount for which capital instruments have been issued.
Made By:
CS Bhavesh Thadani Page | 2
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2
.
Particulars of the Issue:
Details like Type of Capital Instruments, Number of Instruments, Conversion Ratio, Number
of Equity shares on fully diluted basis, Face Value, Premium, Issue price per instrument, Value
of shares allotted are provided in the Form.
Fair Value of the issue as per the Valuation Report of the SEBI registered Merchant
Banker/Chartered Accountant. Valuation Report to be attached in the Valuation Certificate
Tab.
And lastly, there would be declaration by the applicant.
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3
.
Shareholding Pattern:
The applicant shall ensure that the details are correctly filled in the form, so that the
shareholding pattern which is auto- calculated is correct.
Pre transaction values are auto calculated from the Entity Master.
Post transaction values are auto calculated based upon the details provided in the form.
Post transaction= Pre transaction value of shares + Value of shares reported in the form.
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4
.
Submitting the Form:
After
all the details are filled, save and submit the Form with the following
attachments-
Copy of FIRC (Foreign Inward Remittance Certificate)
Copy of KYC (Know Your Customer) report of the remitter.
Declaration by authorized representative of the Indian Company as per format provided in
SMF- user manual.
CS Certificate as per format given in the RBI user manual stating that all requirements have
Valuation Report by Chartered Accountant/Merchant Banker indicating the manner of
arriving at the price of the capital instruments issued to the person resident outside India.
Copy of FIPB approval (if required)
Board Resolution for the allotment of securities along with the List of Allottees.
Letter of Debit Authorization.
Declaration for conversion of CCPS
Pricing guidelines declaration
Reason for any delay in submission, if required.
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5
.
The securities
are allotted within
in 60 days from the date of receipt of application money.
Return of Allotment in Form PAS-3 is filed within 30 days from allotment.
Share Certificates have been issued and Register of Members is updated.
