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of <h1>Foreign exchange rules allow Indian companies to issue shares to non-residents after court-approved mergers with compliance requirements</h1> Foreign exchange regulations permit Indian companies to issue shares to non-resident shareholders following court-approved mergers, amalgamations, or de-mergers, subject to specific conditions. The transferee company must ensure non-resident shareholding percentages comply with government approvals and regulations, avoid restricted sectors like agriculture and real estate, and file detailed reports with the Reserve Bank within thirty days. Additionally, companies may distribute bonus non-convertible preference shares or debentures to non-resident shareholders under court-approved schemes, requiring compliance with original acquisition regulations, Companies Act provisions, and obtaining income tax clearance certificates.
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