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Draft Guidelines on Reporting under FDI Scheme – Transfer of Shares and Convertible Debentures

Document Cited in Related
Vincent

Form FC-TRS
Declaration regarding transfer of shares of by way of sale from resident to non resident/non-resident to resident
(to be submitted to the AD branch in quadruplicate)
The following documents are enclosed

For sale of shares by a person resident in India

i. Consent Letter duly signed by the seller and buyer or their duly appointed agent and in the latter case the Power of Attorney Document.

ii. The shareholding pattern of the investee company after the acquisition of shares by a person resident outside India.

iii. Certificate indicating fair value of shares from a Chartered Accountant.

iv. Copy of Broker's note if sale is made on Stock Exchange.

v. Undertaking from the buyer to the effect that he is eligible to acquire shares/convertible debentures under FDI policy and the existing sectoral limits and Pricing Guidelines have been complied with.

vi. Undertaking from the FII/sub account to the effect that the individual FII/Sub account ceiling, as prescribed by SEBI, has not been breached.

vii. Additional documents in respect of sale of shares by a person resident outside India If the sellers are NRIs/OCBs, the copies of RBI approvals, if applicable, evidencing the shares held by them on repatriation/non-repatriation basis.

viii. No Objection/Tax Clearance Certificate from Income Tax Authority/Chartered Account.
1 Name of the company
Address (including e-mail,
telephone No. Fax No)
Activity
NIC Code No.
2 Whether FDI is allowed under Automatic route
Sectoral Cap under FDI Policy
3 Nature of transaction (Strike out whichever is not applicable) Transfer from resident to non resident/ Transfer from non resident to resident
4 Name of the buyer
Constitution/Nature of the investing Entity

Specify whether

1. Individual

2. Company

3. FII

4. FVCI

5. Foreign Trust

6. Private Equity Fund

7. Pension/Provident Fund

8. Sovereign Wealth Fund (SWFp)

9. Partnership/Proprietorship firm

10. Financial Institution

11. NRIs/PIOs

12. Others
Date and Place of Incorporation
Address of the buyer (including e-mail,
Telephone no, Fax no)
5 Name of the seller
Constitution/Nature of the
disinvesting entity

Specify whether

1. Individual

2. Company

3. FII

4. FVCI

5. Foreign Trust

6. Private Equity Fund

7. Pension/Provident Fund

8. Sovereign Wealth Fund (SWF)

9. Partnership/Proprietorship firm

10. Financial Institution

11. NRIs/PIOs

12. Other
Date and Place of Incorporation
Address of the seller (including
...

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