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Annexure 3

Annexure - III Declaration for Remittance under Indian Investment Abroad & Purchase of ESOP

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AnandSingh
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137 views2 pages

Annexure 3

Annexure - III Declaration for Remittance under Indian Investment Abroad & Purchase of ESOP

Uploaded by

AnandSingh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Annexure - III Declaration for Remittance under Indian Investment Abroad & Purchase of ESOP

To,
The Branch Manager
ICICI Bank Branch Name:

Dear Sir/Madam,
This is with respect to my request for outward remittance from my ICICI Bank account number for
an amount of (Currency & Amount). I confirm the below information:

Purpose Description Additional Details and Declarations


Investment Abroad Below are the Beneficiary types (Select 1 or 2 or 3 as applicable)
(Select the nature of invesment)
1. Remittance to own account abroad 2. Remittance to own brokerage / demat /
Equity Shares* for the purpose of equity portfolio security trading a/c abroad for the purpose
investment of equity portfolio investment.
Debt Security*
(a) Name of Company (If available) :
*Note : (b) Listed / Unlisted (Please indicate):
Investment in Unlisted (c) Name of Stock Exchange if investment in listed company where Listed :
Foreign Entity will be hereby confirm and understand that the amount of foreign exchange remitted is under
treated as ODI. Overseas Portfolio Investment (OPI), investment is below 10% without any controlling power.

3. Remittance to Company or Other Individual / Entity for direct purchase of Equity Shares.
Further details of the referred investment is as under:
Nature of Investment :
(a) Name of company
(b) Listed / Unlisted (Please indicate):
(c) Name of Stock Exchange where Listed
(d) Country of Incorporation
(e) Number of shares to be acquired
(f) Whether (the investor) holds any controlling power in Foreign entity Yes No
(g) Percentage of equity shares : { To be acquired – %} { Overall holdings – %}
(h) Will investment be subscribed to the Memorandum of Association of the overseas entity
Yes No
(i) Whether any other financial commitments such as investment in Optionally Convertible
Preference Shares, Loan, Guarantee, etc in the overseas entity will be undertaken Yes No
( j) Investment is made in existing entity and already incorporated by others Yes No
(k) Remitter Beneficiary relationship ( Investor / Other, Please specify) for other

Investment Abroad Name of the company Regulated by (like SEC, FCA etc.)
Name of the instrument
(Select the nature of invesment)

Venture Capital
Mutual Fund The remittance is towards the investment in Venture Capital / Mutual Fund / including sponsor
Promissory Notes sponsor contribution in units of investment fund overseas duly regulated by the regulator for
the financial sector in the host jurisdiction shall be considered as OPI.

Purchase of ESOP The remittance made for acquisition of sweat equity shares/ minimum qualification shares/ shares or
interest under the Employee Stock Option Plan (ESOP) /Employee Benefits Scheme** (EBS) issued
by foreign company).

In this regard, I hereby state and confirm that: (Please tick as applicable)
1. I am an employee / director of the Indian entity categorized below for being eligible to
acquire shares under ESOP / EBS
2. The said Indian entity is categorized as:

An office / branch in India An subsidiary of a foreign An Indian company / entity in which


of a foreign company. company in India. foreign entity has direct or indirect
equity holding

3. I have controlling power in the said foreign entity – Yes / No


4. With this acquisition my overall stake in the said entity will be < 10 % or >10 %

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Further, I confirm that,
• The shares under the ESOP Scheme are being offered by the said foreign company globally
on a uniform basis.

• In the event of sale/transfer of securities (allotted under ESOP/EBS by the said foreign
company), proceeds thereof shall be repatriated to India immediately on receipt thereof in
terms of extant FEMA guideline as applicable.

• The necessary reporting in Form OPI, in accordance with regulation 10(3) of Foreign
Exchange Management (Overseas Investment) Regulations, 2022 dated August 22, 2022,OI
Regulations then an Annual Return (ESOP reporting) will be submitted done by the Indian
entity as mentioned in para 2, to RBI through Authorized Dealer (AD).

** “Employee Benefit Scheme” means any compensation or incentive given to the directors
or employees of any entity which gives such directors or employees ownership interest in an
overseas entity through ESOP or any similar scheme.

Name and Signature of Remitter Date :

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