LAWyersclubindia LCI
Login  Register
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Transmission of shares to nri

Querist : Anonymous (Querist) 18 November 2011 This query is : Resolved 
A resident Indian holds shares in an Indian Company in which FDI is not permitted/is subject to FIPB approval. On his death, shares are to be transmitted to his descendant who is an NRI. Normally, the NRI descendant could not have owned the shares of the Indian Company due to FDI Policy. Can the shares be transmitted to him due to death of shareholder? Will it not be a breach of FEMA?
Report Abuse
Ankur (Expert) 20 February 2012
Prior approval has to be obtained

Previous
Next

You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :



Ask Query
Unanswered Queries

Laws Laws Follow us





Browse by Category

Stay updated with latest Posts!