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Is it necessary for a resident, holding securities in Indian companies, to secure approval from Reserve Bank on his becoming a non-resident for such securities?

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Is it necessary for a resident, holding securities in Indian companies, to secure approval from Reserve Bank on his becoming a non-resident for such securities?

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No. Reserve Bank of India has granted general permission to companies in India to enter the overseas addresses of the shareholders in their books. Companies have to obtain undertakings from holders that they will not seek repatriation of any sale proceeds of the security.

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