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The shares being held by an Indian Shareholder are being transferred to a Non-Indian shareholder. Is there any other filing/compliance that is needed?

Yes, if shares held by an Indian shareholder are being transferred to a non-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 60 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 non-Indian shareholder must also obtain any necessary approvals and comply with any other requirements under Indian laws.

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