[aaykarbhavan] Re:Issue of shares to foreign company

A private limited company whose fair market value of shares is Rs. 150/- against face value of Rs. 100/- intends to issue shares to foreign company on a premium of Rs. 1000/-. Section 56 (viiib) mentions "any person being resident". I presume hence provisions of section 56 (viib) will not be applicable as shares are not given to resident person

s.d.athale

mumbai

09892133045

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