Banking
This query is : Resolved
28 April 2011
Dear Sir,
A multinational Joint venture company registered in India (JV of 2 US Companies) wants to avail line of credit from Banks in India. The Directors of one JV are US Citizens and The Directors of another JV are NRI (POI). Is their any restriction (banking regulation or other statutory) that Indian banks should not finance the JV. The company is ready to provided the securities of JV in India are given as security to Bank and also extend corporate guarantees of JV partners.
A multinational Joint venture company registered in India (JV of 2 US Companies) wants to avail line of credit from Banks in India. The Directors of one JV are US Citizens and The Directors of another JV are NRI (POI). Is their any restriction (banking regulation or other statutory) that Indian banks should not finance the JV. The company is ready to provided the securities of JV in India are given as security to Bank and also extend corporate guarantees of JV partners.
01 May 2011
I m not clear with the question. Are there two JV companies ???
If the JV companies are registered under Indian companies Act then Indian Banks should be giving loans against the same.
Anuj
0-981016211
If the JV companies are registered under Indian companies Act then Indian Banks should be giving loans against the same.
Anuj
0-981016211
Message likes :
1 times
02 May 2011
Two companies incorporated in US have formed a JV company and invorporated in India. The directors of one company are US citizens and the Dirctors of another company are NRI. All the directors of both the companies are Directors in the JV company, which is incorporated in India.
02 May 2011
If the indian Company is registered under Companies Act ,1956 then Indian Banks should grant the loan subject to fulfillment of terms &conditions as they may impose.
Anuj
0-9810106211
Anuj
0-9810106211
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
