30 September 2011
Our co. (Pvt ltd. co.) has 3 shareholders and out of that 2 are non resident. Now the company wants to issue few more shares to existing non-resident shareholders. My query is:
1.Is there any restriction regarding proportion of no of shares to be issued?
2. what is the procedure for such share issue as per the co. act.
30 September 2011
Sir, there is no resriction in Fema under permissible capital acccount transaction regulations 2000. So follow the same procedures as for resident shareholders, no different procedures are required. OPINIONS ARE INVITED Regards, CS Sumat Singhal
CAclubindia
