Form TS 1
Application for transfer of shares of a company registered
in India by a non-resident to a person resident in India

Instructions :
1. The application should be completed in duplicate and submitted to the concerned Regional
Office of Reserve Bank under whose jurisdiction the Head/Registered Office of the
company, whose shares are to be transferred, is situated if the transferor is a foreign
company/foreign national resident outside India.
2. The application may be signed either by the transferor or the transferee attaching therewith
consent in writing of the other party or a copy of the sale/purchase agreement.
Documentation :
1. Photocopies of Reserve Bank’s approval(s) for acquiring and holding shares by the
transferor, if specific approval was grtanted by Reserve Bank for holding/acquisition of
shares, if applicable.
2. In case the shares proposed to be transferred are listed on a Stock Exchange, a
certificate from a Chartered Accountant certifying the average quotation (average of
daily high and low) for one week preceding the date of application.
3. In case of unlisted/thinly traded shares, valuation of the shares on basis of any valuation
methodology in vogue, if the total consideration is upto Rs.20 lakhs.
4. In case of unlisted/thinly traded shares where the total consideration exceeds Rs.20 lakhs,
two valuation certificates for the shares of the company, one from the statutory auditors of
the company and the other from an independent Chartered Accountant/SEBI registered
Category-I Merchant Banker.
Or
Documentary evidence showing Price Earnings (PE) and Book Value (BV) multiples of
Bombay Stock Exchange National Index (BSEN) for the calendar month immediately
preceding the date of application and a certificate showing the Earnings Per Share (EPS)
and Net Asset Value (NAV) of the shares of the company as per the latest audited
Balance Sheet.
________________________________________________________________
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1. Particulars of the transferor
A. If the transferor is a corporate
body
(i) Name and address
(ii) Place of incorporation
(iii) Total shareholding in the
investee company
(iv) Particulars of Reserve Bank
approval/s for acquiring/
holding shares
(v) Number and face value of
the shares proposed to be
sold/transferred
B. If the transferor is an individual
(i) Full name and address
(ii) Number of shares held in
the Indian company
(iii) Reserve Bank’s approval
number/s and date(s) (if
any) for acquiring/ holding
the shares
(iv) Number and face value of
shares proposed to be
sold/transferred
2. Particulars of the Indian company
whose shares are to be sold
/transferred
i) Name and address
ii) Place of incorporation
iii) Total paid –up capital No. of shares Amount
a) Equity
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b) Preference
c) Held by
Equity Preference
i) Non-resident : No. of
shares
Percentage
to total
paid-up
equity
shares
No. of
shares
Percentage to
total paid –up
preference
shares
(a) Foreign nationals/
Corporate bodies [ other
than included in (b)
below]
(b) NRIs/Overseas corporate
bodies predominantly
owned by NRIs
ii) Residents:
(a) Indian Promoters
(b) Others
Total
3. Particulars of the buyers/transferee:
(i) Name and address
(ii) Place of incorporation
4. Whether the shares are quoted on a recognised
Stock Exchange ?
Yes/No
(i) If the shares are quoted on the Stock
Exchange, whether the sale is proposed
to be effected on the floor of the Stock
Exchange to the general public at the
prevailing market price?
Yes/No
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(ii) If the sale (of the quoted share) is by way
of private arrangement, please furnish
the following:
(a) the average of quotations (average
of daily high and low) for one week
preceding the date of application
duly certified by a Chartered
Accountant. [item 2 under
Documentation]
(b) the proposed sale price
5. If the sale/transfer is of non-listed as well as
listed but not regularly traded shares, the
proposed sale price [to be supported by a
Chartered Accountant's certificate as indicated
in Item 4 under Documentation]
6. Whether the transferor /transferee requires any
permission under the Companies Act/MRTP Act.
If so, whether such permission has been received
from the appropriate authority.
7. Reason for the proposed sale/transfer of shares
8. Any other information which the applicant
wishes to furnish in support of this application.
I/We declare that the particulars given above are true and correct to the best of my/our
knowledge and belief.
Place:.................. ........... ...............................................
Date :..................
(Stamp and signature of the transferor/ transferee as the case may be)