Transfer of Shares by a NRI to a Non Resident ENtity

Following are the formalities to be complied with for transfer of shares to NRI:

1. The payment for the shares to be purchased by NRI  may be made through his NRE/FCNR Account. In case of shares to be purchased on non-repartiation basis, then the amt shall be remitted by way of normal banking channel  or through NRE/FCNR account held by the NRI
2. the following documents to be submitted to the AD through whom the transfer being transacted:

             --- consent letter from buyer and seller or from their authorised agent

             --- share holding pattern of the investee company after the acquisition of shares

             --- chartered accountant certifiacte for valuation shares ( fair value of shares)

             --- undertaking from the buyer that he is eligible to acquire the shares under FDI cap, 

                  if appicable.

      3.    Form FC - TRS to be filed with AD category - I bank within 60 days from the date of 

             receipt of consideration. ( in quadruplicate)

Mr. kavin  

thanks a lot Sir. I come to know something about it .

you're welcome, if you have any questions, please feel free to ask.. will try to answer  

(i) Can you please explain, in detail, the procedure for transfer of shares by one non-resident to another non-resident?

(ii) Also, are there any permissions to be sought from RBI in this regard?

What is the procedure for transfer of shares from NRI to resident Indian and Resident Indian to NRI?

Please Help... Its urgent..

Thanks in advance