https://www.taxtmi.com/acts?id=12402 A corporate prohibition bars bodies corporate (including those under common management) that hold a significant portion of the equity of a foreign company with an established place of business in India from transferring shares to Indian citizens or Indian-incorporated bodies without prior Central Government approval, which may be refused only if the transfer is judged prejudicial to the public interest; the statute references the relevant procedural rules, form and prescribed fee for seeking approval. en-us Mon, 09 May 2011 10:29:14 +0530 Mon, 09 May 2011 10:29:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12402 A corporate prohibition bars bodies corporate (including those under common management) that hold a significant portion of the equity of a foreign company with an established place of business in India from transferring shares to Indian citizens or Indian-incorporated bodies without prior Central Government approval, which may be refused only if the transfer is judged prejudicial to the public interest; the statute references the relevant procedural rules, form and prescribed fee for seeking approval. Act-Rules Companies Law Mon, 09 May 2011 10:29:14 +0530 https://www.taxtmi.com/acts?id=12402