1. Am looking for statutory requirements to run a private ltd co. 80% of shares are held by a foreign national and 20% by an india. 2. These shares are in the name of this lady and she needs to transfer into her company. is there any RBI/ROC regulations etc.,
My no is 9844198634 or if you can give me your's i could speak to you.
1. First pvt ltd co was floated by two indian directors with a capital of 1 lakh. 2. Then a foreigner came in and bought 80% of the shares but had sent the remittance from europe in her proprietory co's name. 3. The authorised capital was increased to 10 lakhs. 4. Our CA transferred 800 shares in the foriegner and 200 in my name as am one of the directors. 5. Now the authorised capital is increased to 50 lakhs 6. Now she is putting in the money to run our business and so far has put in about 25 lakhs. she wants the shares to be transferred in her co's name. 7. what is the RBI regulation/Fera/Fema etc., Can you advise.
There is a difference between a Member and Director..Director need not be a member and visa versa..My questions are
1. who have subscribed the initial paid up capital of Rs.1 lac?
2.and what is the proportion?
3. In the earlier transfer who is the transferor and who is the transferee?
if the transfer of shares is between resident to non resident or non resident to resident according to FEMA u need to file a form called FCTRS(Revised). u have to annex therewith a valuation certificate from CA valuing the shares under transfer...
20 January 2009
1. i have 20% so i paid 20,000/- and the Indian had 80% and she paid 80,000/- 2. The french person remitted 80,000/- to the bank HSBC and 80,000/- was remitted to the indian lady and the shares were transferred in the french person's personal name. 800 shares in french person and 200 in my name. 3. Yes only after i got the FCTRS from the HSBC bank the shares were transferred. In the FCTRS the individual french director's name is there. 4. Now the french person wants this to be transferred in their proprietory owned co in paris. 5. I will call you this evening and hope you don't mind my taking advise.
CAclubindia
