FEMA Query Regarding Round Tripping

[Neha Jolly]

Hi All,

I need help on the following query :

My client is an Indian citizen and has majority shareholding in a foreign company. The client acquired this through LRS,  Now the Parent Company wants to open wholly owned subsidiary in India. There is already a separate private limited Company in India with our client as a majority shareholder. Can the parents company acquire this private limited company or incorporate a WOS in India? Can the client do that ? Will round tripping not be invoked? What methods can we suggest ?

Anyone who can help in  this..

Regards

CS Neha Jolly

9899141809