Disinvestment in foreign subsidiary

Querist : Anonymous (Querist) 13 June 2011 This query is : Resolved
Company A is an Indian Listed Public Limited Company. Company B is a wholly owned foreign subsidiary of Company A. Now Company A is willing to disinvest in Company B and wants to remove it from the list of subsidiary companies of A. What are the compliances to be done under Companies Act, RBI Act, FEMA etc.? Please advise. It is urgent.

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R.Ramachandran (Expert) 14 June 2011
Dear Anonymous,

I believe the Listed Companies have financial wherewithal to engage a good lawyer to advise them comprehensively on such issues.

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