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borrow and investment

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(Querist)
03 September 2010 Whether a director of private limited company can borrow money from his relative / friends circle and invest the same in pvt ltd company in which he is director? is there any consequences in Other act such as Income tax and FEMA?
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esha

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esha (Expert)
04 September 2010 Hey Friend]
yes a director can borrow from his frnz, relatives or directors, applicability of FEMA comes into picture only if the borroing is in foreign currency and would like to suggest u to visit //www.advocatekhoj.com//www.advocatekhoj.com here u will find some further details on ur query.
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