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R.K.MURARKA (BUSINESS)     29 April 2009

Whether Indian company can sell or transfer the shares t NRI

A Private Limited company had shares of Individual who is residing in India and had transferred his shares to his brother who is permanant resident of USA for last 15 years. Whether any persmission from Reserve Bank of India is necessarry. Whether the dividend paid and deposited in local indian rupees account can attract the violation of RBI rules.



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 1 Replies

Om Prakash Dhusia (HR assistant)     29 April 2011

Yes u need permission of RBI to operate your share's accounts in India being permanent resident of another country.


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