Which one of the following situations best reflects "Indirect Transfers" often talked about in media recently with reference to India?

1. The question asks for the situation that best describes "Indirect Transfers" in the context of India. 2. "Indirect Transfers" refer to transactions where shares of a foreign company are transferred between two non-residents, but the underlying value of these shares is primarily derived from assets located in India. 3. Option (A) describes outward investment by an Indian company. 4. Option (B) describes inward investment by a foreign company and taxation in its home country. 5. Option (C) describes an Indian company dealing with foreign assets. 6. Option (D) accurately describes the scenario: A foreign company transfers shares, and the value of these shares comes substantially from assets located in India. This triggers tax implications in India under the rules concerning Indirect Transfers. 7. Therefore, option (D) best reflects the concept.