Issue of shares to a non resident

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Ansar (Querist)
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15 December 2014 If the Face Value of Shares is Rs. 10/- and Fair value is Rs 3/- and the Company wishes to issue Shares at Rs 6/- can it make so..?

Bhaskaran Chackrapani Warrier (Expert)
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15 December 2014 No ,because section 53 of the 2013 act prohibits issue of shares at a discount.

Ansar (Querist)
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15 December 2014 thanks for your comment sir, is this provision applicable for non resident share holder also ?

Ansar (Querist)
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15 December 2014 Further whats the criteria for the same if i am trasfferring my shares to a non resident

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