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1 to 22 of 22 Queries










Query Id is 68
The querist is a stock broker. The querist operates in India and caters to international Institutional investors. These international investors are based abroad. The international investors call into the dealing room of the querist using International Dialing Facility (IDD) from their home countries. The cost of making the call is charged to the investor. The querist wishes to offer to its international investors a "Toll Free" calling facility. In this facility the international investor can call the querist's office on a designated number and cost of the call will be borne by the querist and not the investor. Presently international "Toll Free" calling facility is not offered by any telecom service provider in India. Hence the querist has to use the services of an overseas telecom service provider. The payment to the overseas telecom service provider has to be made in foreign currency. Remittance for the same has to be routed through a Authorised Dealer of foreign exchange. The querist seeks your advice on: * Whether the Reserve Bank of India permits such sort of remittance? * The procedure for remitting the payment out of the country?




Query Id is 63
Whether RBI will permit the transfer of shares of foreign subsidiary by the Indian holding company to a non resident at Rs.10 lakhs i.e. at a price which is less than the book value of the foreign subsidiary? What is the procedures, documents and forms for such transfer of shares? If RBI does not permit the transfer of shares at a price less than book value than whether RBI can permit the fresh issue of shares by the Foreign subsidiary to any person resident in UK including Mr. N at the face value of shares or a price less than the book value ? (So that the book value of the share can be reduced substantially & than transfer of share can be made at book vale as required by RBI). If yes, what is the manner in which the RBI to be intimated? If RBI does not permit the transfer of shares at a price less than book value than whether RBI can permit the issue of shares by the Foreign subsidiary to any person resident in UK including Mr. N under the ESOP at the face value of shares or a price less than the book value ? (So that the book value of the share can be reduced substantially & than transfer of share can be made at book vale as required by RBI). If yes, what is the manner in which the RBI to be intimated? Is there any other mode through which the funds of the foreign subsidiary can be transferred to Mr. N or Indian Subsidiary with minimum tax liabilities in India as well as UK?









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