FOREIGN EXCHANGE MANAGEMENT (TRANSFER OR ISSUE OF SECURITY BY A PERSON RESIDENT OUTSIDE INDIA) REGULATIONS, 2000 (From Regulation 1 to Regulation SCHEDULE 11)
Transfer of shares by non-residents subject to lock-in, market or arm's length exit pricing and prescribed transfer conditions. Regulation 9 allows persons resident outside India to transfer shares, convertible debentures, warrants or Investment Vehicle units held under the Regulations, subject to Schedule conditions. Transfers among non residents and restricted transfers by NRIs are permitted; transfers to residents are limited to gifts or sales on recognised Indian stock exchanges via registered brokers. Holders of instruments with optionality may exit after a minimum lock in period, with exit pricing at prevailing market price for listed companies or at prices determined by internationally accepted arm's length valuation methodologies certified by a Chartered Accountant or SEBI registered merchant banker.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of shares by non-residents subject to lock-in, market or arm's length exit pricing and prescribed transfer conditions.
Regulation 9 allows persons resident outside India to transfer shares, convertible debentures, warrants or Investment Vehicle units held under the Regulations, subject to Schedule conditions. Transfers among non residents and restricted transfers by NRIs are permitted; transfers to residents are limited to gifts or sales on recognised Indian stock exchanges via registered brokers. Holders of instruments with optionality may exit after a minimum lock in period, with exit pricing at prevailing market price for listed companies or at prices determined by internationally accepted arm's length valuation methodologies certified by a Chartered Accountant or SEBI registered merchant banker.
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