RBI and FEMA Services

Filing of FC-GPR:

Form Foreign Currency-Gross Provisional Return (FC-GPR)

The form FCGPR shall be filed with the authorized dealer bank within 30 days from the date of issue of capital instruments.

Filing of FC-TRS

Form Foreign Currency-Transfer of Shares (FC-TRS)

The form FCTRS shall be filed with the authorized dealer bank within 60 days of transfer of capital instruments or receipt / remittance of funds whichever is earlier.

Filing of Form DI

Form DI: Reporting of downstream investment or indirect foreign investment in a company or an LLP-within 30 days from the date of allotment of capital instruments. within 60 days from the date of receipt, if not issued, amount should be well refunded with in 15 days from the date of completion of 60 days.

Filing of Form LLP-I

A Limited Liability Partnership (LLP) receiving amount of consideration for capital contribution and acquisition of profit shares shall submit Form LLP (I) to the Regional Office of the Reserve Bank under whose jurisdiction the Registered Office of the Limited Liability Partnership is situated, within 30 days from the date of receipt of the amount of consideration.

The form LLP (I) shall be filed with the authorized dealer bank within 30 days from the date of receipt of the amount of consideration.

Filing of Form LLP-II

The disinvestment / transfer of capital contribution or profit share between a resident and a non-resident (or vice versa) shall be reported in Form LLP(II) to the authorized dealer bank within 60 days from the date of receipt of funds.

The form LLP (II) shall be filed with the authorized dealer bank within 60 days from the date of receipt of funds.

Foreign Liabilities & Assets (FLA) Return

Annual Return on Foreign Liabilities and Assets (FLA):

An Indian company which has received FDI or an LLP which has received investment by way of capital contribution in the previous year(s) including the current year, should submit form FLA to the Reserve Bank on or before the 15th day of July of each year.

Annual Return on Foreign Liabilities and Assets (FLA) to be filed on or before 15th day of July of each year.

External Commercial Borrowings (ECB)

Transactions on account of External Commercial Borrowings (ECB) and Trade Credit (TC) are governed by clause (d) of sub-section 3 of section 6 of the Foreign Exchange Management Act, 1999 (FEMA). External Commercial Borrowings are commercial loans raised by eligible resident entities from recognized non-resident entities and should conform to parameters such as minimum maturity, permitted and non-permitted end-uses, maximum all-in-cost ceiling, etc. The parameters given below apply in totality and not on a standalone basis.

The borrowers are required to report actual ECB transactions through Form ECB- 2 Return through the AD Category I bank on monthly basis so as to reach DSIM within seven working days from the close of month to which it relates. Changes, if any, in ECB parameters should also be incorporated in Form ECB 2 Return.

Compounding of RBI Contraventions

Compounding powers were delegated to the Regional Offices of the Reserve Bank of India to compound the following contraventions of FEMA 20/2000-RB dated May 3, 2000 as then applicable.

Please refer “Master Direction- Compounding of Contraventions under FEMA, 1999” as amended from time to time.

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