9911796707
TMI BlogTransfer of shares and convertible debentures of an Indian company by a person resident outside IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... Indian company or units of an Investment Vehicle] in accordance with these Regulations, may transfer the 9[shares or convertible debentures or warrants of an Indian company or units of an Investment Vehicle] so held by him, in compliance with the conditions specified in the relevant Schedule of these regulations. 3[Further, subject to minimum lock-in period of one year or minimum lock-in period as prescribed under Annex-B of Schedule 1 whichever is higher, a person resident outside India holding the 7[shares or convertible debentures or warrants ] of an Indian company containing an optionality clause in accordance with these Regulations and exercising the option/right, may exit without any assured return, subject to the following condition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ell the same on a recognized Stock Exchange in India through a registered broker.] *********** Note : 1. Has been substituted vide Notification No. 094/2003 dated 18/6/2003 2. Deleted vide Notification No. FEMA 229/2012-RB, Dated 23-4-2012, before it was read as:- "Provided that the person to whom the shares are being transferred, in terms of clause (i) and (ii), has obtained prior permission of Central Government to acquire the shares if he has previous venture or tie up in India through investment in shares or debentures or a technical collaboration or a trade mark agreement or investment by whatever name called in the same field or allied field in which the Indian company whose shares are being transferred is engaged. Provided furth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d shall exit at the price prevailing at the time of exit, subject to lock in period requirement." 6. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014, before it was read as, "shares and convertible debentures" 7. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014, before it was read as, "shares or debentures" 8. Substituted vide Notification No. FEMA. 308/2014-RB, dated June 30, 2014, before it was read as, "shares or convertible debentures" 9. Substituted vide Not. 355/2015-RB - Dated 16-11-2015 before it was read as, "7[shares or convertible debentures or warrants]" 10. Substituted vide Not. 355/2015-RB - Dated 16-11-2015 before it was read as, "8[shares or convertible ..... X X X X Extracts X X X X X X X X Extracts X X X X
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