Ours is a new company and no work has been done yet. one shares holder has transferred shares to NRI at face value . Form FC TRS has been filed. Query from RBI is -' please submit valuation report from SEBI registered valuer'.
Question : Do we require to submit a share valuation report from a SEBI registered valuer when the company has been newly incorporated and there are no business conducted yet by the company.
RBI Requests Valuation Report for Share Transfer to NRI; Balance Sheet Submission Suggested as Compliance Solution A newly incorporated company with no business activity had a shareholder transfer shares to an NRI at face value. The Reserve Bank of India (RBI) requested a valuation report from a SEBI registered valuer. The query was whether this report is necessary given the company's lack of business. A respondent advised submitting the company's balance sheet as of the transfer date, suggesting this might satisfy the RBI's requirements. The original inquirer agreed to follow this advice. (AI Summary)
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