If non-resident shareholders of a company have transferred their shares to the residents during the reporting period, then whether that company is required to submit the FLA Return?

Foreign investment reporting: companies whose non-resident shareholders fully transferred shares to residents need not file FLA return.

If all non-resident shareholders have transferred their shares to residents during the reporting period and the company does not have any outstanding investment in respect of inward and/or outward FDI as on end March of the reporting year, then the company need not submit the FLA return.