Question
a.
The company is fined by the Reserve Bank
b.
The amount received shall be refunded
c.
The company is obligated to issue shares after 180 days
d.
The amount is forfeited by the government
Posted under IC 89 Management Accounting
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Q. What happens if shares or convertible debentures are not issued within 180 days from the date of receipt of inward remittance or debit to NRE/FCNR/Escrow account?
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