what is to be done under law

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Kamalesh Verma (Querist)

05 May 2009 Dear All,

Please help in following:

say we are an indian public company having three subsidiearies in Bangladesh, UK and Dubai. Now we want to make Dubai company as holding company of Bangladesha and UK. What steps should we take and what will be the requirement for the same with the ROC,govt. etc. how do we proceed.

thanks & regards,

kamalesh

Parveen Bansal

Parveen Bansal (Expert)

05 May 2009 1. Sell shareholding of Bangladesh and UK company from Indian company to Debai company for a consideration.

2. Remittance should be recieved thorugh normal banking channel.

3. Sale should comply with Regulation 16 of Notification no FEMA 19/2000 - RB dated May 3, 2009. Regulation prescribes conditions, which includes condition regrading valuation and minimum operation period of 1 year etc.

4. Be sure about capital gain implication in India as well Bangladesh and UK. Capital gain may arise in Bangldesh and UK since compnies are based in these countries.

5. There is no requirement from ROC / Companies Act perspective.

Kamalesh Verma

Kamalesh Verma (Querist)

05 May 2009 thanks a lot for your valuable suggestion.

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