Dear Friends
Please let me know the procedure and formalities to be complied for transfer of physical shares between two non -resident companies under FEMA and RBI.
Regards
Kavitha
Sachin
(M.Com)
(21 Points)
Replied 16 April 2015
Please take a Transfer form and fill that up and you should be signed by the Transfer and transfer and affix the share transfer stamps and lodge with the company along with the share certificates and the same will be returned after completing the transfer formality.The company secretary after verification will transfer the shares in the name of the nominee / transfer. The whole process may take 2-3 months. After transfer of the physical shares the same may be deposited in the demat account. However, if the transfer has an existing demat account, the shares may be directly credited to the demat account of the nominee / transferred by the company after transfer.
Now a day’s shares in the physical form are not traded. However, that will not impact your transfer of physical shares. The nomination authorization should be with the company because during physical transfer of shares this information used to be provided.
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