Fema query

Please help me to resolve this:

1) Does
Latest circular of RBI circular has made any change to the previous provisions of FDI with respect to transfer of shares from Resident to NRI.

2) i also need to know i have not found advance reporting requirement (as required at the time of FDI for new shares) in the master circular. Please let me know should we need to report the same as in case of allotment of share to NRI within 30 days?

3) Master circular put the onus of submission of the Form FC-TRS within the given timeframe on the transferor / transferee, resident in India WHEREAS in form FCTRS it clearly says it has to be signed by non resident buyer/non resident seller as the case may be. Please let me know the acceptable practice.

manoj

Thanks & Regards
For G.R Gupta & Associates


Dear Professional Colleagues ,

RBI has issued circular as regards to Foreign Direct Investment – Reporting of issue / transfer of Shares to/by a FVCI .

For more details , please visit to:
http://rvseckarfema.blogspot.in/2013/06/foreign-direct-investment-reporting-of.html

Still need to have clarity on following two things:

1) i think the time of 30 days will start from the day when money is remitted in Indian entity bank account irrespective of date of cheques?
Yes. From the date of receipt of money as reported in the FIRC by the authorised dealer .
2) Advance reporting will be done through the same Advance Reporting & KYC Form given in RBI-Forms-FEMA (attached with this mail)
Yes