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    Posted By : Sachin / Published on : 26-Jun-2021 08:40 AM / View : 1035 / Comment : 2

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    Hi All,

    Please clarify whether it is mandatory to provide CA certificate mentioning whether 100% FDI eligible under automatic route for that particular business . The bank insists for the same. Please guide.
    Read more on : fcgpr

    • As per the latest regulations by the Reserve Bank of India (RBI), it is not mandatory to provide a Chartered Accountant (CA) certificate stating whether 100% Foreign Direct Investment (FDI) is eligible under the automatic route for a particular business. However, some banks may require it as part of their internal due diligence processes.

      It is important to note that the RBI has made it mandatory for companies to file an online form through their Authorized Dealer banks for receiving FDI under the automatic route. This form, known as the "FLA Return," is required to be filed annually by companies who have received FDI or made overseas investments in the previous financial year. The FLA Return includes details such as the company's name, business activity, shareholding pattern, and investment received or made during the year.

      If your bank is insisting on a CA certificate, you may want to check with them on their specific requirements and whether it is mandatory for you to provide it. It is always advisable to consult with a professional such as a CA or a legal expert to ensure that you are complying with all relevant regulations related to FDI.

      13-04-2023 / 11:50:52 AM
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    • The article strikes a great balance between being informative connections unlimited and thought-provoking. It encourages readers to reflect on the subject matter rather than just passively consume information.

      15-12-2023 / 09:32:52 AM
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