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Government has exempted the ‘group' exercising less than fifty per cent of voting rights in other enterprise from the provisions of section 5 of the said act for a period of five years.
Foreign Direct Investment (FDI) in India is permitted up to 100% in most sectors under automatic route without requiring prior approval of the government.
Share Sale closing formalities
Only power of attorney, if any, is required to be notarised.
Everything depends on the intentions of the parties.
Transfer of shares also attracts Stamp Duty on the execution of share transfer instrument.
The retrenched workmen are entitled to compensation as per the provisions of the Act.
The time frame for sale of asset and shares entirely depends on the parties and the complexity of the transaction.
Other officers are generally appointed by any director/management personnel so authorised by the Board of Directors in this regard.
As per the previous rules, the Patent Agent of the Applicant was required to submit duly authenticated copies in original e-filing of the same.