One of the Limited company, non-listed, not publicly held company want to transfer his wholly owned subsidiaries to non-resident corporate established outside india. What is procedure under Company Law, FEMA and RBI ?
Ameet (L) (1678 Points)
19 February 2010One of the Limited company, non-listed, not publicly held company want to transfer his wholly owned subsidiaries to non-resident corporate established outside india. What is procedure under Company Law, FEMA and RBI ?
RAMANJU
(here to updating the knowledge)
(485 Points)
Replied 19 February 2010
To transfer the shares to an NRI, It has to be informed to RBI by way filing a report with in 30 days from the date of receipt of money for the purpose of investment in India.
And again for full information please go through RBI master circular.
Ameet
(L)
(1678 Points)
Replied 19 February 2010
SORRY, FORGET TO MENTION,
THIS SUBSIDIARY IS OUTSIDE INDIA.
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