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Issue of shares under Employees Stock Options Scheme and/or sweat equity shares to persons resident outside India

FEMA - 04 - Dated:- 16-7-2015 - RBI/2015-16/128 A.P. (DIR Series) Circular No.4 July 16, 2015 To All Category - I Authorised Dealer banks Madam/Sir, Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to Regulation 8 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, notified by the Reserve Bank vide Notification No. FEMA. 20/2000-RB dated 3rd May 2000, as amended from time to time. 2. In terms of the .....

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he paid up capital of the issuing company. The Trust or Indian company has to ensure compliance with the above conditions and comply with the reporting requirement. 3. On a review, it has been decided that an Indian company may issue employees stock option and/or sweat equity shares to its employees/directors or employees/directors of its holding company or joint venture or wholly owned overseas subsidiary/subsidiaries who are resident outside India, provided that : a.The scheme has been drawn e .....

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in a company where foreign investment is under the approval route shall require prior approval of the Foreign Investment Promotion Board (FIPB) of Government of India. d.Issue of employee s stock option / sweat equity shares under the applicable rules/regulations to an employee/director who is a citizen of Bangladesh/Pakistan shall require prior approval of the Foreign Investment Promotion Board (FIPB) of Government of India. 4. The issuing company shall furnish to the Regional Office concerned .....

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Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2015 notified through Notification No. FEMA.344/2015-RB dated June 11, 2015, vide G.S.R. No. 484 (E) dated June 11, 2015. 7. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (B.P. Kanungo) Principal Chief General .....

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Company issuing ESOP/sweat equity shares S. No. Particulars (In Block Letters) 1. Name of the Company 2. Permanent Account Number (PAN) 3. Address of the Registered office 4. Registration No. given by Registrar of Companies 5. Registration No. given by RBI for FDI, if applicable 6. Telephone 7. Fax 8. e-mail 9. Business details a) Description of the main business activity b) NIC Code c) Percentage of FDI allowed as per FDI policy d) State whether FDI is allowed under Automatic Route or Approval .....

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to the issue. DECLARATION TO BE FILED BY THE AUTHORISED REPRESENTATIVE OF THE INDIAN COMPANY: (Delete whichever is not applicable and authenticate) We hereby declare that: 1. We comply with the procedure for issue of shares under Employees Stock Option Scheme/ sweat equity shares as indicated in Notification No. FEMA 20/2000-RB dated 3rd May 2000, as amended from time to time. 2. The investment is within the sectoral cap / statutory ceiling permissible under the Automatic Route of RBI and we fu .....

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Prevention of Money Laundering Act 2002 (PMLA) and Unlawful Activities(Prevention) Act, 1967 (UAPA). We confirm that the investment complies with the provisions of all applicable Rules and Regulations. 5. We enclose the following documents in compliance with Regulation 8 of Notification No. FEMA 20/2000-RB dated May 3, 2000: (i) A certificate from our Company Secretary certifying that Sweat equity shares have been issued / the Employees Stock Option Scheme has been drawn either in terms of regul .....

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