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Transfer of Shares to NRI

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(Querist)
04 July 2008 Can a shareholder (Individual)tranfer his shares comprising 50% of the paid up share Capital of the Indian Company to a NRI.
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Amit Bajaj

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Amit Bajaj (Expert)
04 July 2008 Yes, he can, however need evaluate what kind of sector or industry company is and RBI restricitons.
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CS Vivek Hegde

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CS Vivek Hegde (Expert)
10 December 2008 Shalini

Yes he can... if it in automatic route or the approval of FIPB is taken up to that limit.

Again he has to follow the procedure prescribed under FEMA(Form is FCTRS)

RGDS

Vivek
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