Transfer of shares by share holders in a private ltd co.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 July 2010 Kinldy let me know the procedure to transfer the shares held by two persons(only two members are there in the company) to other two members who are foreigners?
Can they transfer the shares of a private ltd co. to outsiders?
Kinldy clarify.

Rasesh

Rasesh (Expert)
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22 July 2010 If direct investment in that sector of industry is permitted by FIPB, then yes, the entire capital can be held by foreign persons.

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2010 Thanks for ur reply.
Can the two foreigners act act as the directors of the indian company?

thanks & regards

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Rasesh

Rasesh (Expert)
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23 July 2010 Yes. There is no restriction on their being the directors of the private limtied company.

conducting board meetings can be an issue if they are not in India. So alternate directors may be required to be appointed.