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Transfer of shares from nri to resident

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(Querist)
13 June 2014 Please let me know the procedure to be followed by an Unlisted Private Limited company for the transfer of shares from NRI to resident. The transferee had been alloted the shares under automatic route.
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Nikhil Kaushik online

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Nikhil Kaushik online (Expert)
13 June 2014 you need to report receipt of share application money alongwith KYC of the buyer to RBI through Authorised dealer.

on allotment, you need to file FC-TRS
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Divya Prasad

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Divya Prasad (Querist)
13 June 2014 Thanks Sir,but do I need the prior permission of RBI, for which application in form TS 1 may be made to Reserve Bank?



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Nikhil Kaushik online

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Nikhil Kaushik online (Expert)
13 June 2014 under automatic route, no approval is required.

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