Fdi in llp
This query is : Resolved
Jain Riyashee .s.
(Querist)
17 January 2015
Investment done through NRO account in Limited Liability Partnership (LLP), would it will be treated as FDI or Not?
Chetan Patankar
(Expert)
19 January 2015
Yes, and prior approval is required in such a case.
Message likes :
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Jain Riyashee .s.
(Querist)
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.
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