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If a resident transfer his shares in favour of a NRI/PIO and the later pays the amount from his NRO A/c do we still require to file Form FC-TRS with the AD Bank. Further can they tranfer the shares at any price or it can be done on valuation price only.

Section 56- Transfer and transmission of securities.

Posted By: Anita 10 year(s) ago

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RAMAMURTHY

It is assumed that you do not need Government approval or RBI approval. Please refer to the master circular on FDI as of 1.7.2014. Since the industry is known, it is assumed that you are within the sectoral ceiling. You need to file FC-TRS with the AD Bank and also the valuation is to be above the price arrived at by any internationally accepted pricing methodology.

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