Legal Question in Business Law in India
A company in Chennai is intending to sell out all of its shares to a company in U.S. What are the steps to be taken.?
Asked on 4/03/11, 10:55 pm
2 Answers from Attorneys
Sanjay Kalra
Sanjay Kalra & Associates
Is it a public limited company or a private one ?
Answered on 4/04/11, 1:03 am
Vishwa Arya
Arya & Co.
sir, it will be governed by the provisions of FEMA, for transfer of shares from resident to Non-resident. shares have to be valued by approved valuer/chartered accountant. Also the object of the company is to be seen and whether or not investment of the foreign company is under automatic route or requires permission of FIPB.
Answered on 4/04/11, 1:42 am
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