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  • What is the duration within which the Limited Liability Partnership needs to be formed, post getting the name approved?

    The approved name of LLP shall be valid for a period of 3 months from the date of approval.

    For more information, click here.

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  • In case of an overseas Subscriber and Director, are the documents required to be Notarised and Apostilled for incorporation of a company?

    As per Rule, 13 of the Companies (Incorporation) Rules, 2014, where the subscriber to the Memorandum of Association (“MOA”) or a Director to be appointed is a foreign national residing outside India, the MOA, Articles of Association (“AOA”), proof of identity as well as address proof shall be attested in the following manner which is based on the country where the Subscriber/Director reside or the registered office is situated in case of a body corporate being the subscriber:

    • Residing in a country which is part of the Commonwealth – by a Notary (Public) in that part of the Commonwealth;
    • Residing in a country which is party to the Hague Apostille Convention, 1961 – by a Notary (Public) and duly apostilled in accordance with the said Hague Convention; and
    • Residing in a country which is not party to the Hague Apostille Convention, 1961 – the documents shall be notarized before the Notary (Public) of such country and the certificate of the Notary (Public) shall be authenticated by a Diplomatic or Consular Officer empowered in this behalf under Section 3 of the Diplomatic and Consular Officers (Oaths and Fees) Act, 1948 (40 of 1948) e. attested by Public Notary and authenticated by Indian Embassy in the country of residence. Some of the counties which falls under the list of Hague Convention are: United Kingdom of Great Britain and Northern Ireland United States of America, Singapore, Switzerland, Malaysia, Australia, China, People's Republic of, Japan, Germany.
       

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  • Can AGM (Annual General Meeting) be held at a place situated outside the limit of city, town or village in which the registered office is situated?

    AGM of an unlisted company may be held at any place in India if consent is given in writing or by electronic mode by all the members in advance. However, AGM cannot be held outside India.

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  • Whether AD bank can approve for extension of the project account after the tenure of the project?

    The AD Bank has the power to approve for extension of the project account after the tenure of the project for genuine reasons like completion of warranty period, statutory works like Income tax assessments, VAT/Service tax/GST assessments, to make arrangements for the sale of assets, etc. 

    However, requisite intimations shall be required to be sent to Reserve Bank, FED, CO Cell, Sansad Marg, New Delhi 110001.

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  • What are the documents required to be filed by a LLP annually?

    LLP is required to file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return) annually. The ‘Annual Return’ is required to be filed within 60 days of close of the financial year and ‘Statement of Accounts & Solvency’ shall be filed within 30 days from the end of six months of the financial year to which it relates. Every LLP has to maintain uniform financial year ending on 31st March of a year.
    For further details please access following link.

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  • Can I apply for a company name online?

    Yes, you can avail the RUN service at MCA portal for reserving a name online.

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  • Is it mandatory to appoint Company Secretary in an Indian subsidiary?

    Any company having a paid-up share capital of Indian INR 50 million or above is required appoint a whole-time Company Secretary.

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  • Who is authorized to allot the DIN?

    Central Government (Office of Regional Director (Northern Region), Ministry of Corporate Affairs) allots the DIN upon processing the form DIR-3 filed by the applicant.
    For further details please access following link.

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  • In SPICe AoA (INC-34) if additional Article is required, how to enter the same?

    SPICe AoA (INC-34) has facility for adding, modifying, and deleting Articles.
    For further details please access following link.

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  • What are the key pre-requisites for setting up Indian subsidiary in India?

    • Minimum two directors – mandatory one resident director but not required to be a citizen of India
    • Minimum two shareholders – shareholders may be either corporates or individuals or resident or non-residents
      • No minimum capital threshold, however, should have atleast two shares, if the proposed company will be limited by shares
    • Physical space to be identified as a registered office

    In case of a newly incorporated company, the requirement will apply proportionately at the end of the financial year in which it is incorporated.

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  • How can foreign investors put money in Portfolio Investments in India?

    Investment by FPI registered in accordance with SEBI guidelines including deemed RFPI (erstwhile FII) is permitted in the capital of an Indian Company under the Portfolio Investment Scheme. Investment by individual FPIs should be less than 10% of the paid-up capital of the Indian Company on a fully diluted basis. The aggregate investment by FPIs should not exceed 24% of the paid-up capital of an Indian Company on a fully diluted basis. This aggregate limit of 24% can be increased by the Indian Company concerned up to the sectoral cap/ statutory ceiling, as applicable, with the approval of its Board of Directors and its General Body through a resolution and a special resolution, respectively and subject to prior intimation to RBI. The aggregate FII/FPI investment, individually or in conjunction with other kinds of foreign investment, cannot exceed sectoral/statutory cap.

    For more information, click here.

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  • What are the pricing guidelines to be complied with given the scenario of Issue of shares by Indian investee company to a person resident outside India?

    Listed Securities: Price to be not less than the price worked out as per SEBI guidelines

    Unlisted Securities: Price not less than the price worked out as per internationally accepted pricing methodology on arm’s length basis

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  • Whether IDRs can be converted/ redeemed into underlying equity shares?

    IDRs can be converted/ redeemed into the underlying equity shares only after the expiry of one year from the date of the listing of the IDRs, subject to the compliance of the related provisions of Foreign Exchange Management Act and Regulations issued thereunder by RBI & SEBI in this regard.

    For more information, click here

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  • Can FDI be made in investment vehicles?

    Any person resident outside India may invest in units of Investment Vehicles subject to the conditions laid down in Schedule 8 to Notification No FEMA 20.
     A person resident outside India who has acquired or purchased units of an investment vehicle may sell or transfer in any manner or redeem the units as per regulations framed by SEBI or directions issued by the Reserve Bank.

    For more information, click here

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  • Which are the major FDI attractive sub-sectors in India?

    Textiles (including Dyed, Printed) sector attracted $ 3.19 Bn FDI during April 2000-June 2019.

    For more information, click here.

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  • What are the regulations for a foreign company to set up business operations in India?

    A foreign company can set up business in India via Foreign Direct Investment (FDI) either by incorporating an Indian company or foreign company or LLP under the Companies Act, 2013 or by setting up a Liaison Office, Project Office or a Branch Office of the foreign company. Entry into India is however as per the provision of FDI policy and FEMA rules.

    For more information, click here.

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  • Is it permissible for Start-ups to secure foreign funding?

    RBI via the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (FEMA 20) has allowed startups to issue convertible notes to foreign investors apart from FDI in startups by foreign venture capital investors through subscribing to equity or equity-linked instruments or debt instruments.

    For more information, click here.

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  • What are the exit options available for an investor in IDR?

    The Investor may trade the IDRs in India or can request for redemption of the IDRs to the issuer company.

    For more information, click here

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  • What are investment vehicles?

    Investment Vehicle is an entity registered and regulated under relevant regulations framed by SEBI or any other authority designated for the purpose. For the purpose of Schedule 8 of FEMA 20(R), an Investment Vehicle is a Real Estate Investment Trust (REIT) governed by the SEBI (REITs) Regulations, 2014, an Infrastructure Investment Trust (InvIt) governed by the SEBI (InvIts) Regulations, 2014 and an Alternative Investment Fund (AIF) governed by the SEBI (AIFs) Regulations, 2012. It does not include a Venture Capital Fund registered under the erstwhile SEBI (Venture Capital Funds) Regulations, 1996.

    For more information, click here.

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  • How much FDI did the automobile and auto-components sub-sectors attract?

    Automobile and auto-components industry attracted $22.3 bn FDI inflows during April 2000 - June 2019. It contributes almost 5% of the total FDI inflows in India.

    For more information, click here.

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