How to remit dividend in foreign currency to an NRI who purchased shares from an NRI in foreign curr

This discussion clarifies the process for an Indian company to remit dividends in foreign currency to a Non-Resident Indian (NRI) who purchased shares from another NRI using foreign currency. It confirms that prior RBI permission is indeed required for such remittances. The process involves applying to an Authorised Dealer (AD) Bank with the necessary documentation, and the remittance must typically be routed through a Foreign Currency Non-Resident (FCNR) account.