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Issue of shares to existing non resident shareholders

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(Querist)
30 September 2011
Our co. (Pvt ltd. co.) has 3 shareholders and out of that 2 are non resident. Now the company wants to issue few more shares to existing non-resident shareholders. My query is:

1.Is there any restriction regarding proportion of no of shares to be issued?

2. what is the procedure for such share issue as per the co. act.

Thanx in advance
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
30 September 2011 Sir,
there is no resriction in Fema under permissible capital acccount transaction regulations 2000.
So follow the same procedures as for resident shareholders, no different procedures are required.
OPINIONS ARE INVITED
Regards,
CS Sumat Singhal
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CA.Sanjiv Singh

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CA.Sanjiv Singh (Querist)
07 October 2011 Answer is Not clear
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 August 2023
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