14 February 2009
There is no direct no to NR being shareholders in a private company in COMPANIES ACT(ofcourse FEMA has its own role). But problem will arise when it comes to Board meeting and Annual General Meeting, which are to be held in a same city, town in which the registered office is situated (i.e in India) Regards Neha neha@nehasinghi.com (www.nehasinghi.com)
CAclubindia
