Section 10(g) in The Foreign Exchange Management (Transfer Or Issue Of Security By A Person Resident Outside India) Regulations, 2000
(g)certificate from the concerned Indian company certifying that the proposed transfer of [shares or convertible debentures or warrants] [Substituted for the words "shares or convertible debentures" Notification No. G.S.R. 436 (E), dated 30.6.2014 (w.e.f. 8.11.2005)], by way of gift, from resident to the non-resident shall not breach the applicable sectoral cap/ FDI limit in the company and that the proposed number of [shares or convertible debentures or warrants] [Substituted for the words "shares or convertible debentures" Notification No. G.S.R. 436 (E), dated 30.6.2014 (w.e.f. 8.11.2005)] to be held by the non-resident transferee shall not exceed 5 per cent of the paid up capital of the company;]
