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Application for transfer of shares of a company registered in India by a non-resident to a person resident in India



Ozg FEMA Consultant

Phone # 09811415831-37-61-72-84-92-94

Website: fema.in 
 


Form TS  1




Instructions  :


1.         The application should be completed in duplicate and submitted to the concerned Regional Office of Reserve Bank under whose jurisdiction the Head/Registered Office of the company, whose shares are to be transferred, is situated if the transferor is a foreign company/foreign national resident outside India.

2.         The application may be signed either by the transferor or the transferee attaching therewith consent in writing of the other party or a copy of the sale/purchase agreement.


Documentation  :


1.           Photocopies of Reserve Bank’s approval(s) for acquiring and holding shares by the transferor, if specific approval was grtanted by Reserve Bank for holding/acquisition of shares, if applicable.

2.           In  case the   shares  proposed  to  be  transferred are  listed  on  a  Stock  Exchange, a  certificate  from  a  Chartered  Accountant  certifying   the  average  quotation (average of  daily  high and  low) for  one  week  preceding  the  date of  application.

3.           In case of unlisted/thinly traded shares, valuation of the shares on basis of any valuation methodology in vogue, if the total consideration is upto Rs.20 lakhs.

4.           In case of unlisted/thinly traded shares  where the total consideration exceeds Rs.20 lakhs, two valuation certificates for the shares of the company, one from the statutory auditors of the company and the other from an independent Chartered Accountant/SEBI registered Category-I Merchant Banker.

Or


Documentary evidence showing Price Earnings (PE) and Book Value (BV) multiples of Bombay Stock Exchange National Index (BSEN) for the calendar month  immediately preceding the date of application and a certificate showing the Earnings Per Share (EPS) and Net Asset Value (NAV) of the shares of the company  as per the latest audited Balance Sheet.
________________________________________________________________


1.
Particulars of the transferor







A.
If the transferor is a corporate body










(i)
Name and address










(ii)
Place of incorporation










(iii)
Total shareholding in the investee company










(iv)
Particulars of Reserve Bank approval/s for acquiring/ holding shares










(v)
Number and face value of the shares proposed to be sold/transferred











B.
If the transferor is an individual











(i)
Full name and address
















(ii)
Number of shares held in the Indian company










(iii)
Reserve Bank’s approval number/s and date(s) (if any) for acquiring/ holding the shares










(iv)
Number and face value of shares proposed to be sold/transferred


2.
Particulars  of  the  Indian  company whose  shares  are  to  be  sold /transferred




i)                    Name  and  address




ii)         Place  of  incorporation




iii)        Total  paid –up  capital
No. of  shares
Amount



a) Equity







b) Preference





c) Held  by





         Equity
    Preference


              i)  Non-resident :
No.  of  shares
Percentage  to  total  paid-up equity  shares
No.  of  shares
Percentage to  total  paid –up preference  shares

(a)    Foreign  nationals/
Corporate  bodies [  other
than  included  in  (b)
below]

(b)   NRIs/Overseas  corporate bodies predominantly  owned by  NRIs

ii)  Residents:
   
(a)    Indian  Promoters
(b)   Others


                                       Total
                     




3.
Particulars  of  the buyers/transferee:






(i)                 Name  and address






(ii)               Place  of  incorporation





4.
Whether the shares are quoted on a recognised Stock Exchange ?

Yes/No



(i)
If the shares are quoted on  the Stock
Exchange, whether the sale is proposed
to be effected on the floor of the Stock
Exchange to the general public at the
prevailing market price?

Yes/No






















(ii)
If the sale (of the quoted share) is by way
of private arrangement, please furnish
the following:




(a)
the average of quotations (average of daily high and low) for one week preceding the date of application duly certified by a Chartered Accountant.  [item 2 under Documentation]








(b)
the proposed sale price






5.
If the sale/transfer is of non-listed as well as listed but not regularly traded shares, the proposed sale price [to be supported by a Chartered Accountant's  certificate as indicated in Item 4 under Documentation]




6.
Whether the transferor/transferee requires any permission under the Companies Act/MRTP Act.  If so, whether such permission has been received from  the appropriate authority.




7.
Reason for the proposed sale/transfer of shares




8.
Any other information which the applicant wishes to furnish in support of this application.







            I/We declare that the particulars given above are true and correct to the best of my/our knowledge and belief.





Place:..................                                             ........... ...............................................
Date :..................                                            (Stamp and signature of the transferor/
                                                                               transferee as the case may be)

Ozg FEMA Consultant

Phone # 09811415831-37-61-72-84-92-94

Website: fema.in