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Share allotment procudure

Velayutham Panchatcharam

Dear Experts,

I am working in Pvt company in India and my parent company is in Hongkong. Now my parent company is remitting share capital to India. My query is

1. What is the procedure to use this share capital?

2. when I can use this share capital

3. If I want to use immediately, what should I do?

Need your advise urgently by step by step.

Regards

Panch

Foreign capital remittance compliance: use of remitted share capital requires adherence to Reserve Bank procedures before deployment. A private Indian company inquired about using share capital remitted from its Hong Kong parent. The reply states that remittances from abroad must follow the procedures prescribed by the Reserve Bank of India, and use or immediate deployment of the remitted capital is contingent on compliance with those RBI procedures. (AI Summary)
Corporate Laws / SEBI / LLP
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DR.MARIAPPAN GOVINDARAJAN on Dec 3, 2016

Since the remittance is from foreign country you have to follow the procedure prescribed by Reserve Bank of India.

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