In Budget lingo, this pertains to cases “where a company, not being a company in which the public are substantially interested, receives, in any previous year, from any person being a resident, any consideration for issue of shares that exceeds the face value of such shares, the aggregate consideration received for such shares as exceeds the fair market value of the shares: Provided that this clause shall not apply where the consideration for issue of shares is received by a venture capital undertaking from a venture capital company or a venture capital fund”.
It clearly says resident. How is it trying to prevent foreigners??
... and with the lord of the rings we have valuable insight into how our own weaknesses and greed and lust for power hurt us in the long term...
Aaaah the ingenious Lord of the Rings argument!!
Theory is gray, but the golden tree of life is green. -- Goethe