Fdi in llp

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Jain Riyashee .s. (Querist)
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17 January 2015 Investment done through NRO account in Limited Liability Partnership (LLP), would it will be treated as FDI or Not?

Chetan Patankar

Chetan Patankar (Expert)
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19 January 2015 Yes, and prior approval is required in such a case.

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Jain Riyashee .s.

Jain Riyashee .s. (Querist)
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21 January 2015 but as per the RBI Master circular on FDI in LLP it is stated that investment through FCNR or NRE account is trated as FDI........there is no specific mention of NRO Account.moreover the logic of FDI is to bring foreign currency in India while as in NRO account funds are only of rupee earned in india.