Share transfer
This query is : Resolved
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.
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
https://rbi.org.in/Scripts/BS_FemaNotifications.aspx?Id=174
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