10.

POSITION OF NON EQUITY EXPORTS FROM THE JV/WOS

Year under report

Since commencement of business by JV/WOS

(a)

Projected value

:

(b)

Value actually exported so far

:

(c)

Value realised so far

:

(d)

Value outstanding for realisation beyond six months

:

11.

POSITION OF FOREIGN INVESTMENT INFLOWS INTO THE COUNTRY:

Year under report

Since commencement of business by JV/WOS

(a)

Amount of projected inflow

:

(b)

Amount of actual inflow

:

12.

REASONS FOR NON-REPATRIATION OF ENTITLEMENTS AND SHORTFALLS IN PROJECTED EXPORTS (IF APPLICABLE):

13.

PRESENT PROPOSAL IN BRIEF WITH SUPPORTING REASONS:

14.

REVISED PROJECTIONS MADE

(a)

Profitability of the JV/WOS:

Years of operation

(Amount in FC)

1.

2.

3.

4.

5.

Total

(i)

Gross Sales/Receipts

(ii)

Net Profit(+)/Loss(-)

(iii)

Dividend

(iv)

Transfer to Reserves

(v)

Accumulated Reserves & Surplus(+)/Loss(-)

(vi)

Net worth

(b)

Indian repatriable entitlements:( Net of taxes )

Years of operation

(Amount in FC)

1.

2.

3.

4.

5.

Total

(i)

Dividend

(ii)

Technical know-how fees

(iii)

Royalty

(iv)

Engineering/Technical Services fees

(v)

Consultancy/Management fees

(vi)

Selling agency Commission

(vii)

Others (specify)

(c)

Projections for non-equity/incremental exports:

Years of operation

(Amount in INR)

Period

1.

2.

3.

4.

5.

Total

FOB Value

(d)

Projected investment inflows into India:

Years of operation

(Amount in INR)

Period

1.

2.

3.

4.

5.

Total

Amount

15.

(a)

Whether the applicant company/ies, its promoters, directors, etc. have come under investigations by Enforcement Directorate/CBI/SEBI/ other law enforcing agencies for violation of any law / statute? If yes, the brief details thereof including present stage of investigation/adjudication/manner of disposal of the case should be furnished.

(b)

Is the promoter company presently under "Caution - List" of RBI for non realisation of export proceeds? If so, the present position may be indicated.

16.

Whether a copy of this proposal has been submitted to the concerned Regional Office of RBI? [Yes/No]

Place :

Stamp/
Seal

(Signature of authorised official)

Date :

Name : ___________________________

Designation :_______________________

(1) __________________

(4) __________________

(2) __________________

(5) __________________

(3) __________________

(6) __________________

(b)

The following classification may be kept in view while indicating the category of the application.

(i)

Category ‘A’ (Fast Track Route): Amount of investment is up to 25% of the annual average export/foreign exchange earnings of the Indian promoter in the preceding 3 years subject to U.S.$ 15 million (U.S.$ 30 million in the case of investments in SAARC countries and Myanmar, U.S.$ 25 million in case of Indian software companies investing in the field of computer software and Rs.120 crores in respect of Indian rupees investment in Nepal and Bhutan).

(ii)

Category B (Normal Route): All applications not qualifying for consideration under Category A above and Categories C and D below.

(iii)

Category C: Large investments beyond US$ 15 million where the funding beyond US$ 15 million will be out of GDR resources.

(iv)

Category D: Large investments beyond US$ 15 million by the established exporters without raising any funds through GDR route.

(c)

All amounts, both in FC and INR, should be rounded off to the nearest thousand and the same should be indicated after omitting 000, e.g.,10,499 and 10,500 should be shown as 10 and 11 respectively.

(d)

Additional sheets may be attached only if the space available against a particular item is insufficient.

2.

All proposals for addition/deletion of the terms and conditions of the existing approval,

change in size and pattern of investment, extension of loan/guarantee from India beyond the limit already approved, etc. should be submitted to the Chief General Manager, Exchange Control Department, Central Office, Overseas Investment Division, Reserve Bank of India, Amar Building, Fort, Mumbai 400 001. Where the proposal comes under Category A, the application should be submitted in two sets and in other cases in five sets. One copy of the proposal should be submitted simultaneously to the concerned Regional Office of the Reserve Bank of India to enable them to furnish their comments to Central Office of the Reserve Bank of India with reference to the records available with them.

3.

Applications for clearance under Sections 370/372(4)/295 of the Companies Act, 1956, if

applicable, should also be simultaneously submitted directly to the Joint Secretary, Department of Company Affairs (DCA), Shastri Bhavan, New Delhi 110 001 for expeditious consideration.

4.

The applicants should ensure that the latest Quarterly Progress Report (QPR), if the

project is under implementation, or Annual Performance Report (APR), if the project is in operation has already been submitted (in duplicate) to the concerned Regional Office of RBI and Ministry of Commerce and the particulars furnished in form ODS tally with those given in the latest QPR/APR. A copy of the latest QPR/APR may be enclosed to the first copy of form ODS for ready reference.

5.

Where the proposal envisages an increase in the level of equity, loan or guarantee in

respect of the existing JV/WOS or extension of fresh loan or guarantee, a project/feasibility report incorporating, inter alia, projected Funds Flow Statements and Balance Sheet for the next 5 years, information on various leverage and profitability ratios of the foreign concern after infusion of additional equity/extension of fresh/additional loan/guarantee should be enclosed. This should be accompanied by a statement from a Chartered Accountant verifying the ratios, projections made, etc. in the report/form ODS.

6.

Where application comes under Category A certificates (in form BCX) from the

concerned authorised dealers (ADs) in support of export performance for the last three years (excluding equity exports) and certificates in form BCI from the concerned Ads/certificate from Chartered Accountant in support of other foreign exchange earnings for the last three years should be enclosed.

7.

In case the additional resources for investment are to be raised through GDR route, copy

of the application made to/"in principle" approval letter obtained from MOF for the purpose should be enclosed.

8.

Latest annual accounts of the applicant company/ies as well as the overseas JV/WOS

should be enclosed.

9.

Copy of the resolution of the Board of Directors of the Indian promoter company/ies

approving the proposed additional investment should accompany the application.

10.

Where the plant and machinery/goods are proposed to be exported from India as equity

contribution, the details thereof should be furnished in the proforma given below;

Sr. No.

Item with broad specific- cations

Name and address of the supplier/
manufacturer

No.of Units

FOB value/ unit

Total FOB value

Remarks

1.

2.

3.

4.

5.

6.

7.

11.

It may be noted that the quantum of non equity exports projected by Indian parties to the

foreign concern shown under item 14(c) of form ODS would amount to an undertaking that these will be achieved as indicated therein.

12.

The Indian promoter company/ies setting up JV/WOS abroad for attracting foreign

investments into India should furnish the information on the amount of foreign investments projected to be brought in by them during the first five years of operation under item 14(d) of form ODS.

13.

Where there are more than one Indian promoter of the JV/WOS, the applicant should be

authorised specifically by all the other promoters to represent them and a copy of such authority should be attached.

14.

Indian promoter companies applying to the Reserve Bank of enhancement of loan/

guarantee to the overseas JV/WOS or for making major changes in the existing terms and conditions of approval should enclose to form ODS a duly certified statement indicating details of investment availed of under the EEFC Fast Track Window from the authorised dealers (viz. date of approval, RBI Identification Number, amount approved for each JV/WOS, country of their location, etc.)