FNC 1 					(Paragraph 11 A.1) Application for permission under Section 28 of Foreign Exchange Regulation Act1973 to act or accept appointment as agent in India for any person or company Instructions: 1. The application should be completed in triplicate and submitted to the Chief General Manager, Exchange Control Department (Foreign Investment Division), Reserve Bank of India, Central Office,Mumbai 400 001. 2. A separate application should be submitted for each agency arrangement.3. It may be noted that for the purpose of Sections 28 & 29 of Foreign Exchange Regulation Act, 1973, the term Company means any body corporate and includes a firm or other association of individuals. 4. In the Explanation under Section 28 of Foreign Exchange Regulation Act, 1973, the terms agent and processing have been defined as under:(a) Agent includes any person or company (including its branch) who or which buys any goods with a view to sell such goods before any processing thereof. (b) Processing means any art or process for producing, preparing or making an article by subjecting any material to a manual, mechanical, chemical, electrical or any other like operation but does not include any process incidental or ancillary to the completion of a manufactured product such as dividing, pressing, compressing, packing, repacking, labelling, re-labelling, branding or the adoption of any such treatment as is necessary to render such dproduct marketable to the consumer. By virtue of the provisions of the above explanation the agency arrangements (covering trading or commercial transactions) entered into on principal-to-principal basis also require the permission of Reserve Bank under Section 28 of the Act. Documentation: Please submit the following documents in triplicate: 5. Balance sheets and Profit and Loss Account statements of the applicant for the preceding three years, if the applicant is a company functioning in India. 6. Balance sheets and Profit and Loss Account statements of the principal company for the preceding three years. 7. Certified copies of the agency agreement and/or of the relevant correspondence exchanged withthe principal. 1. (a)  Full name and address of the applicant,			(a)	(i.e., the agent)   (b)  Nationality (if the applicant is and			(b) 	individual)   (c)  Place of incorporation (if the				(c) 	applicant is a company)   (d)  If the applicant is a branch of a			(d)	company incorporated abroad, date of   	establishment of the Indian branch and   	details of Reserve Banks approval (if   	any) obtained in that regard    (e)  Nature of business or manufacturing 			(e) 	activity in India of the applicant,  	stating the products traded in/manufa-  	ctured, as the case may be   2. (A)  If the applicant is a person resident   	outside India, please state whether-  	(a) Citizen of India					(a) 	(b) Not a citizen of India				(b)   (B)  If the applicant is a foreign citizen  	of India, please state-  	(a) Country of birth					(a) 	(b) Date of birth					(b) 	(c) Since when staying in India and 			(c) 	    probable duration of further stay   	    in India  	(d) Purpose of stay in India  	(e) Particulars of Reserve Banks  	    approval obtained (if any) under  	    Section 30 of F.E.R.Act, 1973  	    for practising any profession or  	    carrying on any occupation, trade  	    or business in India  	(f) Whether enjoying any recurring 			(f) 	    remittance facilities; if so, details  	    thereof  3. If the applicant is a company, please    furnish the following particulars/documents   (A) Authorised capital 	(a) Equity					(a) Rs......divided into ......shares of 								Rs......each 	(b) Preference					(b) Rs......divided into ......shares of 								Rs...... each    (B)  Paid-up capital						(a) Equity					(a) Rs......divided into ......shares of 								Rs......each 	(b) Preference					(b) Rs......divided into......share of 								Rs.....each 	(c) Held by									Equity 			Preference 							No.of	Face	%	No.of 	Face 	%							shares  value  		shares  value	    (i) Non-residenet  				(a) Corporate Bodies  		    		    (i) Firms, companies 			and instrutions/  			bodies other than  			those included in  		   	(ii) below  		   (ii) Firms. companies   			and other bodies   			directly of indirectly  			owned to the extent   			of atleast 60% by  			non-residents of   			Indian nationality/  			origin  			(a) with repartiation  			    benefits  			(b) without   			    repatriation  			    benefits  		(b) Individuals  		    (i) Indian nationals and  			persons of Indian  			origin  			(a) with repatriation  			    benefits  			(b) without   			    repatriation  			    benefits  		   (ii) Others  	  	   (ii) Resident  		(a) Firms, companies and  		    other insitutions/bodies  		(b) Individuals  		    (i) Indian nationals  		   (ii) other than Indian  			nationals    						Total  4. (A)  (a) Full name and address of the				(a)  	principal  	(b) Nationality(if the principal is an(b)   	    individual)  	(c) Place of incorporation(if the (c)  	    principal is a company)  	(d) Nature of the principals business   			(d)	    in India  	(e) Is the principal a small-scale				(e)  	    manufacturer or co-operative or  	    public sector undertaking ?    (B) Particulars of shareholdings, etc., in the  	principal company, as in column 3  	above, if it is a company incorporated  	in India  5.  Percentage of shareholdings held by the    applicant in the principal company or vice    versa6.  Full particulars of the agency arrangement    for which approval is sought    (a) Nature of agency, such as, selling 				(a)  	Agency, buying agency, indenting 	agency, etc.    (b) Date of agreement and its validity				(b)    (c) Terms of remuneration						(c)    (d) Territory and products covered					(d)    (e) Nature of after-sales service to be				(e)  	performed, it any    (f) Arrangement for imports, if the agency				(f)  	involves imports into India    (g) The amount of expected earnings per				(g)  	annum    (h) Whether the commission will be 					(h)  	received in rupees or in foreign   	exchange  7.  If the applicant company has entered into    any other agency arrangements, please    state-    (a) Name and address of the principal				(a)    (b) Nature of the agency						(b)    (c) Number and date of Reserve Banks				(c)  	approval obtained therefor  8.  In the case of existing agencies, please    state-    (a) The amount of the agency commission 				(a)  	earned during each of the last three  	years-  	(i) In Rupees							(i)  	(ii) In foreign exchange"					(ii)    (b) Has the commission (if any) earned in				(b)	foreign exchange been repatriated to  	India? If so, attach bank certificate  	(where the applicant has agency  	arrangement with more than one   	principal, please state the total   	amount of commission earned form  	all the existing agency arrangements  	during each of the last three years.)  	(Separate figures should be given  	principal-wise, commodity-wise and  	agreement-wise, as far as possible)      (c) Outstanding quantities and value of				(c)  	order/contracts existing as on the  	date of this application  9.  Full justification to enter into or to continue    or to modify the agency arrangement    (as the case may be)  10. Whether the application purchases any items    form other parties (otherwise than for     processing into one of the items being    manufactured by the applicant) for resale.    If so, please state-    (a) Name and address of the local					(a)  	manufacturer    (b) Description of the items purchased				(b)    (c) The outstanding quantities and value				(c)  	of orders/contracts existing as on the  	date of this application    (Please attach four certified copies of the    agreements and/or certified copies of the    relevant correspondence exchanged with    the local manufacturers)11. Particulars of dividend/profit remittances    made abroad by the applicant company    during the last three years, quoting    Reserve Banks approval numbers and dates12. Amount of foreign exchange earned (if any)    from exports (giving break-up or item-wise    export earnings), and other sources during    each of the last three years  13. Whether the applicant has/proposes to set    up Research & Development Cell in its    organisation. If so, please state the annual    expenditure incurred during the last three    years/expected to be incurred annually  14. (A) Number of the staff and labour  	employed by the applicant  	(a) Technical staff						(a)  	(b) Administrative and account staff				(b)  	(c) Labour							(c)  	    (i) Skilled								(i)  	   (ii) Unskilled							(ii)      (B) Whether any foreign personnel are  	employed. If so, please attach a list  	giving the names and nationalities of   	such employment, emoluments and  	particulars of Reserve Banks  	approvals obtained (if any) for their  	employment.  	I/We hereby declare that the particulars given above are true and correct to the best of my/our knowledge and belief. 						........................................												(Signature of Applicant/Authorised Official) place:..........			Stamp			Name:....................................  Date :..........				Designation:.............................