RBI Press note Declaration Format for FCGPR/FC TRS/ Downstream Investment

 

FOREIGN DIRECT INVESTMENT (FC GPR / FC TRS / Downstream Investment)

Date:

BANK NAME

ADDRESS

Dear Sir/ Madam,

Ref: Investment in ………………. for ……… (number of shares) shares @10 each by remitting FCY amounting to Rs………………..

We confirm that this investment of FCY amounting to Rs…………………/-( INR) is not from an entity of a country, which shares land border with India or the Significant Beneficial Owner (jointly or severely) of an investment into India who is situated in or is a citizen of any such country (Pakistan, Bangladesh, Afghanistan, Nepal, Bhutan, Myanmar, and China.  China includes Hong Kong and Macau).

Herewith we confirm we are in compliance to Press Note No. 3(2020 Series) dated 17/04/2020

We are hereby sharing the shareholding pattern of our company for your reference (optional)

Investor category	Investor country	Percentage holding as of ___ (date) – prior to remittance

   

Yours Faithfully                                                                        Yours Faithfully           

                                               

 

 

Authorised Signatory                                                              Authorised Signatory 

Name:-                                                                                     Name:-

Designation:-Authorised person                                            Designation:-Director

Email id :-                                                                               Email id :-

Contact number:-                                                                   Contact number:-

(Investor)                                                                                (Investee Company)                                

 

As per the Standard Operating Procedure (SOP) for Processing FDI Proposals issued by Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry, Government of India vide notification No. No. 1/8/2016-FDI Policy dated November 9, 2020, significant beneficial owners of the Investee & Investor Entities shall be as prescribed under the Companies Act, 2013 and rules thereunder.

Further, Ministry of Corporate Affairs, Gazette Notification No. G.S.R. 100(E). dated 8th February, 2019 (Companies (Significant Beneficial Owners) Amendment Rules, 2019) “significant beneficial owner”** in relation to a reporting company means an individual referred to in subsection (1) of section 90, who acting alone or together, or through one or more persons or trust, possesses one or more of the following rights or entitlements in such reporting company, namely:-

(i) holds indirectly, or together with any direct holdings, not less than ten per cent. of the shares;

(ii) holds indirectly, or together with any direct holdings, not less than ten per cent.  of the voting rights in the shares;

(iii) has right to receive or participate in not less than ten per cent. of the total distributable dividend, or any other distribution, in a financial year through indirect holdings alone, or together with any direct holdings;

(iv) has right to exercise, or actually exercises, significant influence or control, in any manner other than through direct holdings alone

 

The above beneficial owner per cent holding of 10% will be considered for all investors i.e. Companies, HUF, Partnership, Proprietary concerns, body of Individuals, trusts and Individuals.

 

** please refer Companies (Significant Beneficial Owners) Amendment Rules, 2019 published vide Ministry of Corporate Affairs, Gazette Notification No. G.S.R. 100(E). dated 8th February, 2019 for further explanations in this regard.