banner_ad

Regarding RBI Approval

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 March 2010 Dear Sir

My client is NRI since last 10 years but was operating a Demat Account with Bank. No he permanently close the account from India.

Whatever stock he is holding, he wants to redeem and he does not have Trading Account so he has to redeem by physically submitting the form.

I want to know that for doing this, does he have to take RBI permission? and what is the procedure?
Profile Image

M Prabhakar Menon

Profile Image

M Prabhakar Menon (Expert)
23 March 2010 In demat form how does your client have physical share/debenture certificates? The demat account must be with some bank or broker of the stock market.Was RBI permission taken at the time of purchase? If yes then conditions for liqudating will also be stated in the permission.If no permission is there then it depends on the amount,percentage of holding etc for attracting RBI norms.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details