Posted By : CS Shiriti / Published on : 14-Feb-2019 03:25 PM / View : 146 / Comment : 0
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    A non resident LLC had made FDI of rs one lac in equity shares of indian pvt co. (IT company) under a technical collaboration agreement.

    later agreement is terminated. Non resident gifts its equity shares to resident Indian director of the investee company.

    Is it legal? If yes, what returns to be filed with RBI/FEMA?
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