Please tell me if foreign Share holder of Newly incorporated Indian private Company hold share and beneficiary of such share is Foreign holding company of this Indian private company then from whose Account money for such Share should be transfered to the Indian PrivateCompany Bank Account?
(1)Share Holder? OR
(2)Beneficiary of Share Holder i.e Foreign holding company?
03 June 2012
It will be the beneficiary and the beneficiary should submit a letter indicating that he is aware of the transaction that money is transferred from its account for allotment of shares to the other shareholder. After incorporation file forms under Sec 187 C
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