Fema
This query is : Open
14 December 2011
I wish to know that can my client transfer the investments made in the overseas to the name of the company as those investments were made in the interest of the business. On transfer of the said investments in those companies, they would either will become wholly owned subsidiary or an associate.
Please reply to the query as soon as possible
Thanking You
With Regards
Vibhor Kala
Please reply to the query as soon as possible
Thanking You
With Regards
Vibhor Kala
15 December 2011
Your query is not clear. What I could understand that individual had made investments in his personal cpacity outside India under the LRS scheme and later on he is selling the same to some other Indian company.
Please confirm whether my understanding is correct.
Anuj
Please confirm whether my understanding is correct.
Anuj
15 December 2011
The person is not selling the same he is transferring the same to the name of the company, which has taken over his proprietor business, so i just need to know if i have to inform to the RBI regarding the transfer ???
15 December 2011
It is the case of transfer of business from proprietor to the company..
15 December 2011
Here the issue to be checked whether the original investment was made in accordance with the provisions of FEMA.
Anuj
+91-9810106211
femaquery@gmail.com
Anuj
+91-9810106211
femaquery@gmail.com
15 December 2011
yes , the person made the original investment in accordance with the FEMA..
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