RAMAKRISHNAN IYER (Sr.Manager) 19 November 2008
Dear friends,
Two of our directors have to sign the declaration of solvency on stamp paper (Tamil Nadu), duly notarised for the buyback of our Company's shares.
Both the directors are foreign directors. We can not send the stamp paper abroad as it is violation of RBI norms. To the contrary we can not have the document executed on plain paper, get it notarised and then frank it in Chennai as there is no facility for franking.
Kindly advise the way out.
Regards,
RAM
arunprakaash.m. (advocate) 20 November 2008
Why can't your foreign directors approach indian consulate in the concerned country for the execution of your document.
Mugundhan (Lawyer) 16 December 2008
your foreign directors can execute the instrument in plain paper in the country concerened, get it notarised there, then obtain the counter signature of the Indian embassy and send it to India. After receipt of the same in India, the instrument may be presented to the collector under the Indian Stamp Act in the particular district in which the instrument is received and is going to take effect. The authority will collect the necessary stamp duty and make an endorsement to that effect in the document. For this you have to produce the postal cover also in which the document reached India
RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA) 24 December 2008
I do agree with my both friends.
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