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 ?

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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.

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Answered on 4/04/11, 1:42 am


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