New Upcoming Legal Jobs Free Workshop March 11 at 5 PM. Register here

    Question

    Under the FEMA norms issued by RBI for direct listing on

    international exchanges, where must the proceeds from the sale of equity shares be remitted or deposited?
    A Exclusively in foreign accounts Correct Answer Incorrect Answer
    B In a bank account in India or in a foreign currency account of the Indian company Correct Answer Incorrect Answer
    C Directly to the RBI Correct Answer Incorrect Answer
    D In offshore investment accounts Correct Answer Incorrect Answer
    E Any global stock exchange Correct Answer Incorrect Answer

    Solution

    According to the new FEMA norms, proceeds from the purchase or subscription of equity shares of an Indian company listed internationally must be remitted to a bank account in India or deposited in a foreign currency account of the Indian company.

    Practice Next

    Relevant for Exams: