S P NAGARAJAN

Non resident Indian's are permitted to acquire immovable property(s) in India. if the properties are acquired and Registered with Registrar of Properties, there are no prohibition under the companies Act to register in favour of the company at a market value and payment of adequate stamp duty. once the title of the property transferred in the name of the company, the shares can be allotted in favour of the NRI as consideration otherwise than in cash (sec 75 of 1956 corresponding sec 39 of 2013 ACT), to be followed. In addition to that effect FROM-FCGPR to be filed with A.D as per FEMA(Requlation 20 to be followed)