capital contribution by NRI partners

This query is : Resolved

AMIN M KESHWANI (Querist)
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17 July 2010 Hi,
A partnership deed is formed and duly notarised in july,2010 having 4 partners, all of indian origin.
Out of the above, 2 partners are NRI.
I want to take import export license as they will be manufacturing and exporting AC parts.

Do i have to obtain RBI's permission for NRI partners before applying for IEC code?
OR is there a general permission given by RBI for the same.

Regards
Amin Keshwani

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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20 July 2010 DEAR KESHWANI JI,
AS PER FOREIGN TRADE POLICY 2009-2014, AT THE TIME OF FILLUP ANF-2A, COLUMN NO. 5,IS MENTIONED THAT

"In case of NRI interest/holding with repatriation benefits in the firm/company, please furnish"

RBI PERMISSION NO. AND DATE IS MANDATORY IN THE ABOVE SAID CONDITION.

REGARDS,

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