Fema compliance- purchase of shares in an indian co. from a


24 May 2013 An Indian Resident is to purchase equity shares in an Indian Company from a NRI.

At the same time the NRI is also to pay some purchase consideration to this Indian Resident on account of a current account transaction.

Can this consideration be set-off and only the net amount be paid to the NRI for the purchase of shares.

Kindly also provide a reference of the corresponding circular / section.

24 May 2013 No, the same is not permitted.


Anuj
Femaquery@gmail.com

27 May 2013 Sir, but is it explicitly mentioned anywhere that the same shall not be allowed.

Could you please provide me a reference of the same?




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