Share transfer

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Sachin (Querist)
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19 September 2010 A foreign citizen want to sale his share holding in Indian Pvt. Ltd. company to an individual resident in India. Whats the formalities Please specify. Purcahse proce was rs. 3 lakhs and the sale price is rs. 1, because the company's net worth is tottaly eroded.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 September 2010 Mainly FEMA regulations has to be complied. See notification no FEMA 20/2000 in the following link.
https://rbi.org.in/Scripts/BS_FemaNotifications.aspx?Id=174

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