Transfer of Shares

[Reshma kochar]

Dear Experts,

I have a query in FEMA.

A NRI holds some shares in TATA Steel and now wants to transfer these shares to his father in India as gift.

Is this allowed in terms of FEMA? If yes what will be the procedure.

Please share you views.

Regards,

Reshma

[DR.MARIAPPAN GOVINDARAJAN]

Have you done so? If not yet clarified please inform me along with the latest position.

AI Summary

Gift of shares by non-resident to resident: query on permissibility and procedural requirements under FEMA.
Query whether a non-resident Indian holding shares in an Indian company may transfer those shares as a gift to his resident father in India and what procedural steps and FEMA compliance are required; the only response requests confirmation whether the transfer has been effected and for information on the latest position, providing no substantive legal conclusion.