Is it necessary for a resident Indian, holding securities in Indian companies, to secure any approval from the Reserve Bank of India on his becoming a non-resident for holding such securities?
No. Reserve Bank of India has granted general permission to companies in India to enter the overseas addresses of the shareholders in their books in such cases, provided the companies obtain undertakings from the holders that they will not seek repatriation of any sale proceeds of the underlying securities.
Related Questions
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