Transfer of Eq Shares by Non Resident to Non Resident

Dear Shivaram,

Kindly check if there is any previous approval from any FDI approving authority such FIPB or RBI then you have incorporate appropriate changes in the letter of approval from these authority.

Also,kindly confirm whether the incoming Non-Resident does not have any PRess Note 1 attraction or(Para 4.2.2 of Consolidated Circular 1 ).If it so then you have to take prior approval for such transfer.

Regards

Thanks for all your guidance in this regard. 

Regards

Shiva