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FDI Declaration - 2

This document is a letter to be sent to HDFC Bank upon receipt of inward remittance for foreign direct investment. It confirms that the funds were received from a foreign investor for purchasing shares or securities in the company. It states that the investment is under the automatic route and within sectoral caps. It provides the line of activity and NIC code of the company and confirms the activity is not prohibited. It undertakes to comply with relevant FDI laws and regulations. It confirms the investment is not from an entity of a country sharing a land border with India or a beneficial owner from such a country, unless government approval was obtained.

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258 views1 page

FDI Declaration - 2

This document is a letter to be sent to HDFC Bank upon receipt of inward remittance for foreign direct investment. It confirms that the funds were received from a foreign investor for purchasing shares or securities in the company. It states that the investment is under the automatic route and within sectoral caps. It provides the line of activity and NIC code of the company and confirms the activity is not prohibited. It undertakes to comply with relevant FDI laws and regulations. It confirms the investment is not from an entity of a country sharing a land border with India or a beneficial owner from such a country, unless government approval was obtained.

Uploaded by

nomito2038
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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FDI Declaration - 2

FOREIGN DIRECT INVESTMENT (FC GPR / FC TRS)

LETTER TO BE TAKEN FROM CUSTOMER ON RECEIPT OF THE INWARD


REMITTANCE

Date:

HDFC BANK LTD.

……………………….

Dear Sir/ Madam,

Ref: Receipt of _________________ (Foreign currency amount in figures) _________________


(Foreign currency amount in words) under Inward Reference No.________________ from
____________________ (Foreign Investor)

1. We hereby confirm that the above funds have been remitted by


_______________________ (“Foreign Investor”) for purchasing the Equity /
Compulsorily Convertible Preference Shares / Compulsorily Convertible Debentures/
Share Warrants/ subscription to Rights Issue renunciation of right shares of our company
and all applicable extant guidelines pertaining to the same will be complied with. (Strike off
option not applicable).

2. The investment falls under the ____% Automatic Route of Foreign Direct Investment of
the Government of India and the current transaction/investment is within the sectoral cap
in accordance with the provisions of Foreign Exchange Management (Non- Debt
Instruments) Regulations, 2019 as amended from time to time.

3. Line of activity (NIC Code mandatory) __________________________ (Please mention


the relevant serial number / NIC code and line of activity as per SECTOR/ACTIVITY).
We confirm that the said activity does not fall within the prohibited activities as defined in
the extant Master Direction on Foreign Direct Investment and the consolidated Foreign
Direct Investment Policy issued by the Ministry of Commerce and Industry currently in
force and amendments thereof.

4. We undertake to comply with all the relevant provisions of Foreign Exchange Management
Act, 1999 including provisions of Foreign Exchange Management (Non-debt Instruments)
Rules, 2019 , Foreign Exchange Management (Mode of Payment and Reporting of Non-
Debt Instrument Regulation, 2019) and Foreign Exchange Management (Non-debt
Instruments) Amendment Rules, 2020 as well as any amendments thereof and other
applicable law including guidelines on beneficial owners under Prevention of Money
Laundering Act, 2002 (PMLA 2002) if any, pertaining to the above transaction.

5. A. We confirm that this investment is not from an entity of a country, which shares land
border with India or the 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, Macau and
Taiwan). We also enclose herewith confirmation obtained from the investor company. Or

B. We confirm having obtained the requisite Government approval in compliance with the
Foreign Exchange Management (Non-debt Instruments) Amendment Rules, 2020 as the
remittance is from an entity of a country, which shares land border with India or the
beneficial owner of an investment into India who is situated in or is a citizen of any such

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