Share transfer from resident to non resident
This query is : Resolved
28 February 2013
While Filing Form FC-TRS witd AD bank for trf of Shares from Resident to non Resident, Can anyone send me format for the following
1) Consent letter of Buyer and Seller
2) Certificate indicating Fair valur of shares from a CA
3) Declaration from Buyer that he is eligible to acquire of Shares.
4) No Objection certificate from CA./ Income Tax officer.
Thanks and regards.
Sohil Bharwada
1) Consent letter of Buyer and Seller
2) Certificate indicating Fair valur of shares from a CA
3) Declaration from Buyer that he is eligible to acquire of Shares.
4) No Objection certificate from CA./ Income Tax officer.
Thanks and regards.
Sohil Bharwada
28 February 2013
Undertaking from Buyer:
From
Mr. A
USA
To
The Manager
XYZ Bank
Bangalore – 560001
Sir ,
Re: Transfer of shares of RST L Private Limited held by the residential shareholder to Mr. A, USA
I refer to the consent letters dated 2007 signed by and between Mr. XYZ and Mr. A, USA , relating to the transfer of shares of RSTL Private Limited having par value of Rs. 10/- each for a consideration of Rs.
I confirm that I am eligible to acquire the shares under the Foreign Direct Investment policy under the Automatic Route in accordance with Notification No. FEMA 20/2000- RBI dated 3 May 2000 and Notification No. FEMA 94/2003-RB dated 18 June 2003.
I confirm that pricing guidelines have been complied with and that the price of shares as aforementioned has been arrived at in terms of pricing guidelines issued by erstwhile Controller of Capital Issues.
Yours Sincerely,
x
Mr. A
From
Mr. A
USA
To
The Manager
XYZ Bank
Bangalore – 560001
Sir ,
Re: Transfer of shares of RST L Private Limited held by the residential shareholder to Mr. A, USA
I refer to the consent letters dated 2007 signed by and between Mr. XYZ and Mr. A, USA , relating to the transfer of shares of RSTL Private Limited having par value of Rs. 10/- each for a consideration of Rs.
I confirm that I am eligible to acquire the shares under the Foreign Direct Investment policy under the Automatic Route in accordance with Notification No. FEMA 20/2000- RBI dated 3 May 2000 and Notification No. FEMA 94/2003-RB dated 18 June 2003.
I confirm that pricing guidelines have been complied with and that the price of shares as aforementioned has been arrived at in terms of pricing guidelines issued by erstwhile Controller of Capital Issues.
Yours Sincerely,
x
Mr. A
Message likes :
1 times
28 February 2013
Consent Letter from Seller..........
From
Mr. XYZ
Bangalore 560034
To
The Manager
ABC Bank
Bangalore – 560001
Dear Sir,
Ref : Transfer of shares of RST Private Limited held by Mr XYZ
to Mr. A , USA
Mr. XYZ , Indian resident, has agreed to transfer for consideration his shareholding of equity shares in RST Private Limited to Mr. A , USA
Mr. A , USA , a non–resident , has hereby agreed to purchase the equity shares held by Mr XYZ at par value of Rs.10 per share.
RST Private Limited is carrying on the business of Software design & product development and the said transfer is under the Automatic Route for Foreign Direct Investment.
I hereby set forth the details required to be furnished to you as per RBI/2004-05/207 A.P.(DIR series) circular No. 16, dated October 4, 2004:
Name of the Transferor Mr XYZ
Name of the Transferee Mr. A, USA
Name of the Indian entity whose shares are being transferred RST Private Limited.
No. of shares transferred
Price at which shares are being transferred
Total Amount of considerations
I will be happy to provide you with any further information that you may require in this regard.
Thank you,
X x
Mr XYZ Mr. A ,USA
From
Mr. XYZ
Bangalore 560034
To
The Manager
ABC Bank
Bangalore – 560001
Dear Sir,
Ref : Transfer of shares of RST Private Limited held by Mr XYZ
to Mr. A , USA
Mr. XYZ , Indian resident, has agreed to transfer for consideration his shareholding of equity shares in RST Private Limited to Mr. A , USA
Mr. A , USA , a non–resident , has hereby agreed to purchase the equity shares held by Mr XYZ at par value of Rs.10 per share.
RST Private Limited is carrying on the business of Software design & product development and the said transfer is under the Automatic Route for Foreign Direct Investment.
I hereby set forth the details required to be furnished to you as per RBI/2004-05/207 A.P.(DIR series) circular No. 16, dated October 4, 2004:
Name of the Transferor Mr XYZ
Name of the Transferee Mr. A, USA
Name of the Indian entity whose shares are being transferred RST Private Limited.
No. of shares transferred
Price at which shares are being transferred
Total Amount of considerations
I will be happy to provide you with any further information that you may require in this regard.
Thank you,
X x
Mr XYZ Mr. A ,USA
28 February 2013
Consent Letter from Buyer:
From
ABC
To
The Manager
XYZ Bank
Koramangala
Bangalore.
Dear Sir,
I confirm that I hereby give my consent to buy no. shares of Vistara Informatics Private Limited from Mr. , residing at for Rs per share, amounting to Rs.
I also confirm that the funds for purchase of shares will be remitted through normal banking channels.
Yours Sincerely,
ABC
Signature:
Name:
Designation:
Consent Letter from Buyer:
From
ABC
To
The Manager
XYZ Bank
Koramangala
Bangalore.
Dear Sir,
I confirm that I hereby give my consent to buy no. shares of Vistara Informatics Private Limited from Mr. , residing at for Rs per share, amounting to Rs.
I also confirm that the funds for purchase of shares will be remitted through normal banking channels.
Yours Sincerely,
ABC
Signature:
Name:
Designation:
Message likes :
2 times
28 February 2013
DETAILS REQUIRED FOR TRANSFER OF SHARES
1. Following details of Buyer
• Name
• Address
• Telephone No.
• Fax
• E mail
2. Following details of Seller
• Name
• Address
• Telephone No.
• Fax
• E mail
3. Bank Details of Seller
• Bank Name
• Branch Name
• Address
• Type of A/c
• A/c No.
• MICR Code
• SWIFT CODE
• Beneficiary Bank Transit No. (ABA No.)
• Intermediary Bank Details ( If the funds are routed through an Intermediary Bank by the Remitter’s Bank if Remitter’s bank does not have a branch in India)
4. Photo ID proof of Buyer required. Proof like driving license, Passport copy etc the details must tally as to what has been given in the FCTRS form
5. Purpose for which the Seller is receiving the Funds
6. If the seller / Buyer is other than Individual then following details required
• Type of Constitution
• Date and place of incorporation
7. Particulars of earlier RBI / FIPB approvals if any
8. Details of Proposed Transfer like
• Date of Transfer
• No of shares
• Face value
• Negotiated price (Certified by CA)
• Amount of consideration
9. Foreign Investments in the company - No of shares % of holding
• Before Transfer
• After Transfer
10. If unlisted company, price as per valuation guidelines certified by CA.
11. If the Buyer is a Corporate then
• Board Resolution for buying / purchasing the shares
• Board Resolution to Authorise Director(s) to sign on behalf of the Company
• Signature of the Director(s) authorised to sign on behalf of the Company to be attested by another Director(s)
• Board Resolution to be signed by a Director(s) other than the one authorized by the Board to sign documents relating to Transfer on behalf of the Company
• Identity proof of the following which clearly has his photograph, name and signature as given in the board resolution
Director authorized to sign the documents on behalf of the company
Director signing the Board Resolution
DETAILS REQUIRED FOR TRANSFER OF SHARES
1. Following details of Buyer
• Name
• Address
• Telephone No.
• Fax
• E mail
2. Following details of Seller
• Name
• Address
• Telephone No.
• Fax
• E mail
3. Bank Details of Seller
• Bank Name
• Branch Name
• Address
• Type of A/c
• A/c No.
• MICR Code
• SWIFT CODE
• Beneficiary Bank Transit No. (ABA No.)
• Intermediary Bank Details ( If the funds are routed through an Intermediary Bank by the Remitter’s Bank if Remitter’s bank does not have a branch in India)
4. Photo ID proof of Buyer required. Proof like driving license, Passport copy etc the details must tally as to what has been given in the FCTRS form
5. Purpose for which the Seller is receiving the Funds
6. If the seller / Buyer is other than Individual then following details required
• Type of Constitution
• Date and place of incorporation
7. Particulars of earlier RBI / FIPB approvals if any
8. Details of Proposed Transfer like
• Date of Transfer
• No of shares
• Face value
• Negotiated price (Certified by CA)
• Amount of consideration
9. Foreign Investments in the company - No of shares % of holding
• Before Transfer
• After Transfer
10. If unlisted company, price as per valuation guidelines certified by CA.
11. If the Buyer is a Corporate then
• Board Resolution for buying / purchasing the shares
• Board Resolution to Authorise Director(s) to sign on behalf of the Company
• Signature of the Director(s) authorised to sign on behalf of the Company to be attested by another Director(s)
• Board Resolution to be signed by a Director(s) other than the one authorized by the Board to sign documents relating to Transfer on behalf of the Company
• Identity proof of the following which clearly has his photograph, name and signature as given in the board resolution
Director authorized to sign the documents on behalf of the company
Director signing the Board Resolution
28 February 2013
My pleasure........................
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