23 July 2012
X Ltd - (Foreign Co) holds 99.99% of shares in PQR Pvt Ltd (Indian co) and 1 share (0.001%) is held by Mr. NRI as Nominee shareholder of X Ltd. Now i want to transfer this 1 share held by Mr. NRI to other Foreign Company. please guide me with: 1. whether should i follow transfer of share (s.108) or should i need to follow change of nominee route (S.109A)of Co. Act. 2. Fema Guidelines for transfer of share from Non resident to non resident. 3. also do it involve any transactions for purchase price and how it is valued under FEMA / Companies Act. 4. what are the formalities to comply with under FEMA and Co Act. please reply me urgently. thanks in advance.
CAclubindia
