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Approval from FIPB, Service Tax

Issue Id: - 423
Dated: 18-4-2007
By:- SHANTI NARAIN

Approval from FIPB

Contents

We are dealing in stainless steel products. We want to supply our products in India by our proposed 100% subsidiary. The Stainless steel will be imported from our 100% held Indian subsidiary and then sell to various wholesaler in India. Please let us know whether we require approval from FIPB for holding 100% shares in an Indian Company. Or it is under automatic route. Thank you.

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Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 20-4-2007
By:- Surender Gupta

There are certain restriction and sectoral cap for FIPB route for trading activities. You may refer to FEM (Transfer of Issue of Security by a person Resident Outside India) Regulation, 2000.

Page: 1