Rbi approval required or not

 investment by acquisition of shares where the consideration is to be paid fully or partly by issue of the Indian Party’s shares (swap of shares), irrespective of the amount, the valuation will have to be done by a Category I Merchant Banker registered with SEBI or an Investment Banker/ Merchant Banker outside India registered with the appropriate regulatory authority in the host country.

I AM ASKING WHETHER RBI APPROVAL REQUIRED OR NOT? THE INVESTEE COMPANY IS ENGAGED IN TELECOM SECTOR.

Ajali,

Yes, RBI Approval is required for transfer of shares to  Foreign Entity.

PLEASE SHARE THE NOTIFICATION OF RBI FOR THE SAME. IT WILL BE GREAT HELP