i) The Indian company has to file Form FC-GPR, not later than 30 days from the date of issue of shares.
ii) Form FC-GPR has to be duly filled up and signed by Managing Director/Director/Secretary of the Company and submitted to the Authorized Dealer of the company, who will forward it to the Reserve Bank.
The following documents have to be submitted along with the form:
a) A certificate from the Company Secretary of the company certifying that:
A) All the requirements of the Companies Act, as applicable, have been complied with.
B) Terms and conditions of the Government of India approval, if any, have been complied with.
C) The company is eligible to issue shares under these Regulations.
D) The company has all original certificates issued by authorized dealers in India evidencing receipt of amount of consideration.
b) A certificate from SEBI registered Merchant Banker or Chartered Accountant indicating the manner of arriving at the price of the shares isIndiad to the persons resident outside India.
c) The report of receipt of consideration as well as Form FC-GPR have to be submitted by the AD Category-I bank to the Regional Office concerned of the Reserve Bank under whose jurisdiction the registered office of the company is situated.
d) Annual return on Foreign Liabilities and Assets (Section-3) should be filed on an annual basis by the Indian company, directly with the Reserve Bank. This is an annual return to be submitted by 15th of July every year, pertaining to all investments by way of direct/portfolio investments/reinvested earnings/other capital in the Indian company made during the previous years (i.e. the information submitted by 15th July will pertain to all the investments made in the previous years up to March 31). The details of the investments to be reported would include all foreign investments made into the company which is outstanding as on the balance sheet date. The details of overseas investments in the company both under direct/portfolio investment may be separately indicated.
e) Issue of bonus/rights shares or stock options to persons resident outside India directly or on amalgamation/merger/demerger with an existing Indian company, as well as issue of shares on conversion of ECB/royalty/lump-sum technical know-how fee/import of capital goods by units in SEZs, has to be reported in Form FC-GPR.
Please refer to the Consolidated FDI Policy at link for more information.