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FEMA

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(Querist)
25 March 2009 1)Is any intimation is required by a 100% foreign owned company to RBI or any other authorities for any domestic loan raised from Indian directors, their relatives and other companies.
2) Pls also let us know whether a separate intimation is required to comply with FIPB norms, or ‘FCGPR’ & ‘KYC for UIN of RBI’ suffices the intimation requirements.
3) Any intimation/approvals required under Fema/ other Acts in respect of Foreign Nationals holding directorship in the company.
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Sudhag

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Sudhag (Expert)
05 August 2011 Please see your point wise reply below
No intimation is required to RBI in case loan is taken from Indian directors, relatives and other Indian companies.
Under which route the money has come in India. Have you taken the FIPB approval. Please inform.
No information is required for foreign directors holding directorship in the company to RBI.
Please be free to write for further queries at sudhag999@gmail.com
Regards,
CA. Sudha G. Bhushan
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