Restriction on transfer of foreign company shares requires prior Central Government approval before transfers to Indian persons, subject to public interest. A corporate prohibition bars bodies corporate (including those under common management) that hold a significant portion of the equity of a foreign company with an established place of business in India from transferring shares to Indian citizens or Indian-incorporated bodies without prior Central Government approval, which may be refused only if the transfer is judged prejudicial to the public interest; the statute references the relevant procedural rules, form and prescribed fee for seeking approval.