Format of documents required for transfer of shares to non r

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2012 Can any one give me the following letter formats to be submitted to AD bank for transfer of shares from resident individual to non resident company:-

1.Consent letter duly signed by the seller and buyer
2.buyer undertaking letter format
3.seller undertaking letter format

my e mail Id raoandco52@yahoo.com

V Rao

Ajay Mishra

Ajay Mishra (Expert)
Follow

14 December 2012 Hi

Buyer under taking:

26th March 2007

From

Mr. A
USA

To

The Manager
XYZ Bank

Bangalore – 560001

Sir ,

Re: Transfer of shares of RST Private Limited held by the residential shareholder to Mr. A, USA

I refer to the consent letters dated 2007 signed by and between Mr. XYZ and Mr. A, USA , relating to the transfer of shares of RST Private Limited having par value of Rs. 10/- each for a consideration of Rs.

I confirm that I am eligible to acquire the shares under the Foreign Direct Investment policy under the Automatic Route in accordance with Notification No. FEMA 20/2000- RBI dated 3 May 2000 and Notification No. FEMA 94/2003-RB dated 18 June 2003.

I confirm that pricing guidelines have been complied with and that the price of shares as aforementioned has been arrived at in terms of pricing guidelines issued by erstwhile Controller of Capital Issues.

Yours Sincerely,

x

Mr. A

Ajay Mishra

Ajay Mishra (Expert)
Follow

14 December 2012 Hi

Consent letter:

26 March 2007

From

Mr. XYZ

Bangalore 560034

To

The Manager
ABC Bank

Bangalore – 560001

Dear Sir,

Ref : Transfer of shares of RST Private Limited held by Mr XYZ
to Mr. A , USA

Mr. XYZ , Indian resident, has agreed to transfer for consideration his shareholding of equity shares in RST Private Limited to Mr. A , USA

Mr. A , USA , a non–resident , has hereby agreed to purchase the equity shares held by Mr XYZ at par value of Rs.10 per share.

RST Private Limited is carrying on the business of Software design & product development and the said transfer is under the Automatic Route for Foreign Direct Investment.

I hereby set forth the details required to be furnished to you as per RBI/2004-05/207 A.P.(DIR series) circular No. 16, dated October 4, 2004:

Name of the Transferor Mr XYZ
Name of the Transferee Mr. A, USA
Name of the Indian entity whose shares are being transferred RST Private Limited.
No. of shares transferred
Price at which shares are being transferred
Total Amount of considerations

I will be happy to provide you with any further information that you may require in this regard.

Thank you,

X x
Mr XYZ Mr. A ,USA

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now