https://www.taxtmi.com/circulars?id=1861 Clarifies that no holding licence from the Reserve Bank is required for acquisition of foreign securities where general permission applies under FEMA Notification No. FEMA 19/RB-2000, including bonus shares, gifts/inheritance from non-residents, and cashless ESOP acquisitions. For transactions not covered by general or special permission, prior permission of the Reserve Bank is required, and prior RBI approval is specifically required for acquisition as qualification shares and rights shares. en-us Tue, 18 Dec 2001 00:00:00 +0530 Fri, 03 Oct 2008 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1861 Clarifies that no holding licence from the Reserve Bank is required for acquisition of foreign securities where general permission applies under FEMA Notification No. FEMA 19/RB-2000, including bonus shares, gifts/inheritance from non-residents, and cashless ESOP acquisitions. For transactions not covered by general or special permission, prior permission of the Reserve Bank is required, and prior RBI approval is specifically required for acquisition as qualification shares and rights shares. Circulars FEMA Tue, 18 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1861