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What are the permissions required for off-market transfer of securities?

April 26, 2017off-market permissions securities transfer

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What are the permissions required for off-market transfer of securities?

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From NRI to NRI – No permission From person resident – No permission outside India to person resident in India (Gift) From person resident in – Application to RBI India to person resident by transferor outside India (Gift) From person resident in – Approval from GoI India to person resident and then RBI, if the outside India (Sale) acquisation is on repatriable basis. But if acquisation is on non-repatriable basis, approval only From person resident – RBI Permission outside India to person through form Ts1 resident in India (Sale).