Dear Members,
If a Pvt. company issue Bonus shares to NRI investor, what formalities needs to be complied as per Co's Act, 2013 and does it require approval of RBI?
Kindly guide
Swati Sharma (TRAINEE) (328 Points)
19 May 2015Dear Members,
If a Pvt. company issue Bonus shares to NRI investor, what formalities needs to be complied as per Co's Act, 2013 and does it require approval of RBI?
Kindly guide
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 19 May 2015
No it does not require prior approval of RBI. Refer master circular issued by RBI:
https://rbi.org.in/scriptts/BS_ViewMasCirculardetails.aspx?id=9006
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
CAclubindia
