Can a foreign company holding shares of an indian listed company sell shares in India on stock exchange and use the sale proceeds to buy shares of a non listed company, which will then become its subsidiary
Can a foreign company holding shares of an indian listed company sell shares in India on stock exchange and use the sale proceeds to buy shares of a non listed company, which will then become its subsidiary
Dear Sunil,
plz be specific,
tell the sector in whcih investment was made
automatic route or approval route?
Sunil,
Please post query with details of the Sector of the company of which the shares had been purchased & in which the foreign company wants to invest...
Coz FEMA,1999 prohibits some prescribed investment by PROI (Person resident outside india) in India..
Adarsh
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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