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Transfer of shares

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Guest

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Guest (Querist)
07 November 2008 X is holding co in foreing country and Y is a Wholly Owned Subsidiary of X which is incorporation in India.

Z is a holding company of X situated in another foreign country.

X is dissolved and the shares in Y are transferred to Z.

Both are Non Residents and the transfer happens. What is the procedure to be complied with RBI.

No inflow into india hence no permission required right?

Try to send me a NOTE on the process immediately.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
07 November 2008 Transwer of shares is between two NRs is permitted by FEMA.

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