Yes, if shares held by a non-Indian shareholder are being transferred to an Indian shareholder, there are some filings and compliance requirements that need to be met. The transfer must be reported to the Reserve Bank of India within 30 days of the transfer, using the prescribed form. Additionally, the company must ensure compliance with all relevant provisions of the Foreign Exchange Management Act, 1999, and any other applicable laws and regulations. The Indian shareholder must also ensure compliance with the Income Tax Act, 1961, and pay any applicable taxes.
