Transfer of shares of unlisted companies to foreign national

Dear GK,

In case of trnsfer of shares of an unlisted Indian Company from a resident to non resident the provissions of Section 108 would be applicable. As far as the approval of the RBI is concerned provisions of RBI/2007-2008/18, Master Circular No.02/2007-08 would be applicable. I am attaching the file hereith, refer to page 13 of the attached file.

Regards

CS Praveen Tiwary

Dear sir,

QUERY :

1. A company incorporated outside India, which has the knowledge, the know how, the experience and the management capabilities in the field of growing olives in groves for the purpose of table olive and olive oil production  wish to provide technical know –how in this field to an Indian private limited company. Against the technical know how, the foreign company shall be issued 33.33% equity. What permission under FEMA is required to issue shares to foreign company?
2. Indian government shall allot land on lease of 50/99 years to the Indian company for carrying out said activities. Whether any permission required under FEMA as foreign investor is also a shareholder of the Indian company?
3. Appointment of Foreign National as Director of an Indian Company and Remuneration Payable to Them. What permissions are required under RBI/FEMA?