No NOC for share transfer to non-residenthttps://indianexpress.com/article/news-archive/web/no-noc-for-share-transfer-to-nonresident/

No NOC for share transfer to non-resident

The RBI has waived the requirement of No Objection Certificate (NoC) with regard to share transfer from residents to non-residents where the investee company is in the financial services domain. However,it said “any ‘fit and proper or due diligence’ requirement as regards the non-resident investor should be complied with.

The RBI has waived the requirement of No Objection Certificate (NoC) with regard to share transfer from residents to non-residents where the investee company is in the financial services domain. However,it said “any ‘fit and proper or due diligence’ requirement as regards the non-resident investor should be complied with.

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