Foreign Direct Investment (FDI) in India – Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures

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....dam/ Sir, Foreign Direct Investment (FDI) in India - Reporting mechanism for transfer of equity shares/ fully and mandatorily convertible preference shares/ fully and mandatorily convertible debentures Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to the following extant instructions: • in terms of A.P. (DIR Series) Circular No. 38 dated Septembe....

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....s approval from the Reserve Bank of India, Central Office before certifying the form FC-TRS received by them beyond the prescribed period of 60 days; • in terms of paragraph 6.4 of annex to A.P. (DIR Series) Circular No. 16 dated October 4, 2004, the IBD/FED or the nodal office of the bank has to submit a consolidated monthly statement in respect of all the transactions reported by th....

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....bmission of form FC-TRS, beyond the prescribed period of 60 days and in all other cases, form FC-TRS shall continue to be scrutinised at AD bank level as per extant practice. • The AD banks shall continue to comply with the consolidated reporting requirement as stipulated in terms of Para 6.4 of A. P. (DIR Series) Circular No. 16 dated October 4, 2004. 3.  These directions wil....