if a NR transfer shares to another NR does any approval required from RBI by the company..
our company has a shareholder
who is foreigner and now he wants to transfer to another foreigner...
does our company need any approval from RBI for the same.
or we simple prepare share transfer documents and update in our register the same ..
and while filling FLA to RBI do the needful changes .
pls suggest ..
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Transfer of shares of an Indian company between to Non resident
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Any company that has received FDI or made any overseas investment shall be required to file the Annual FLA return. Further, if a company has not undertaken any such transaction during the current year but has outstanding ODIs or FDIs of the previous years, still it needs to file its FLA return disclosing the balance of assets and liabilities
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