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of <h1>Equity Transfer Rules: Non-Residents Can Acquire Indian Shares Through Sale, Gift, or Stock Exchange with Regulatory Conditions</h1> Legal Summary of FEMA Rule 9 on Transfer of Equity Instruments:The statutory provisions outline rules for transferring equity instruments between residents and non-residents of India. Key provisions include: transfers can be made through sale, gift, or stock exchange, subject to specific conditions such as government approvals, pricing guidelines, and sectoral caps. Transfers are regulated based on repatriability, investment limits, and compliance with Reserve Bank of India requirements. Gift transfers have additional restrictions, including a maximum value limit and relationship criteria between donor and donee. The rule also addresses pledge mechanisms for securing borrowings and credit facilities, with specific conditions for transfer and invocation of pledged shares.
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