14 December 2011
I wish to know that can my client transfer the investments made in the overseas to the name of the company as those investments were made in the interest of the business. On transfer of the said investments in those companies, they would either will become wholly owned subsidiary or an associate.
15 December 2011
Your query is not clear. What I could understand that individual had made investments in his personal cpacity outside India under the LRS scheme and later on he is selling the same to some other Indian company.
Please confirm whether my understanding is correct.
15 December 2011
The person is not selling the same he is transferring the same to the name of the company, which has taken over his proprietor business, so i just need to know if i have to inform to the RBI regarding the transfer ???
CAclubindia
