Friday, February 15, 2013

USUAL CONTRAVENTIONS UNDER FEMA


  • Draw down of External Commercial Borrowing (ECB) without obtaining Loan Registration Number (LRN)
  • Allowing draw down ECB under the automatic route :-
  1. from unrecognized lender
  2. to ineligible borrower,
  3. For non-permitted end uses, etc.

  • Non-filing of form ODI for obtaining UIN before making the second remittance to overseas WOS/JV for Overseas Direct Investment (ODI)
  • Non-submission of Annual Performance Reports (APRs) / copies of Share Certificates
  • Delay in submission of the Advance Reporting Format in respect of Foreign Direct Investment (FDI)
  • Delay in filing of details after issue of eligible instruments under FDI within 30 days in form FC-GPR
  • Delay in filing of details pertaining to transfer of shares for FDI transactions in form FC-TRS by resident individual/companies
  • Delay in reporting inflow of FDI within 30 days.
  • Delay in allotment of equity/other securities within 180 days.

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