HDFC BANK LTD.
Reg: Receipt of USD _________ (Foreign Currency and Amount) under Inward Reference No.________________ from ___________________________ (Foreign Investor) for purchase of Equity / Compulsorily Convertible Preference Shares / Compulsory Convertible Debentures under the FDI automatic route of investment of the Government of India.
We confirm, undertake and understand the following in respect of the referred funds:
1. The above funds have been remitted by _______________________ (“Foreign Investor”) for purchasing the Equity / Compulsorily Convertible Preference Shares / Compulsorily Convertible Debentures of our company. The investment falls under the ____% Automatic Route of Foreign Direct Investment of the Government of India in accordance with the provisions of Notification No. FEMA 20/2000-RB dated May 3, 2000, as amended from time to time; (ii) Sr. No. ___ (Please mention the relevant serial number as per SECTOR/ACTIVITY) mentioned under Annex – 1 to the extant Master Circular on Foreign Direct Investment and (iii) the Consolidated Foreign Direct Investment Policy issued by the Ministry of Commerce and Industry dated October 1, 2011.
2. We undertake to comply with all the relevant provisions of Foreign Exchange Management Act, 1999 and other applicable law, if any, pertaining to the above transaction.
3. As per extant Master Circular on Foreign Direct Investment we undertake to complete the following activities in the case of issuance of securities :
a) Report above inward remittance to the Reserve Bank of India (“RBI”) vide the Authorised Dealer within 30 days of receipt of remittance along with the original Foreign Inward Remittance Certificate and an authenticated copy of Know Your Customer format of our Foreign Investor. b) We have to allot Shares / Debentures to our Foreign Investor within 180 days of the receipt of the above inward remittance or...
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