In case a company is incorporated in India by two Indian subscribers, then their shares shall be issued on non repatriation basis and then with in 6 months these shares are transferred to Foreigners on repatriation basis. How is this possible? When a share by its birth is non repatriable, how it can become repatriable when transferred to NRI on Foreign Exchange.
Whether any FEMA Requirements/approvals are to be complied with apart from filing FCGPR.
repatriable
shares
