Inter-company share purchase approval requires Central Government application with resolutions, funding sources, valuation and supporting documents. Form No. 34B requires a Central Government application for a company's proposed purchase of another company's shares, detailing corporate identities, proposed investment specifics (shares, face value, premium, total), funding sources, existing exposures and post transaction holding; confirmation of Board and member resolutions under sections 372(4) and (5); independent valuation and justification where premium or loss making investee is involved; disclosure of defaults under section 58A; and prescribed supporting documents including audited accounts and statutory resolutions, with a verification statement and fee payment proof.
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Inter-company share purchase approval requires Central Government application with resolutions, funding sources, valuation and supporting documents.
Form No. 34B requires a Central Government application for a company's proposed purchase of another company's shares, detailing corporate identities, proposed investment specifics (shares, face value, premium, total), funding sources, existing exposures and post transaction holding; confirmation of Board and member resolutions under sections 372(4) and (5); independent valuation and justification where premium or loss making investee is involved; disclosure of defaults under section 58A; and prescribed supporting documents including audited accounts and statutory resolutions, with a verification statement and fee payment proof.
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