Foreign director
This query is : Resolved
ankit doshi
(Querist)
17 February 2013
Can a private limited company take loan from foreign director?
If yes, what are the rbi / fema compliance to be done?
If yes, what are the rbi / fema compliance to be done?
Ajay Mishra
(Expert)
17 February 2013
Hi
Yes, you can take loan from Foreign director.
After receiving you will Intimate the same through Authorised dealer.
Firstly you contact your Authorised dealer ( Bank) to receive the same.
Yes, you can take loan from Foreign director.
After receiving you will Intimate the same through Authorised dealer.
Firstly you contact your Authorised dealer ( Bank) to receive the same.
CA. Anuj Gupta
(Expert)
18 February 2013
The loan from Foreign director can be received only when the prescribed conditions under ECB are fulfilled.
Anuj
femaquery@gmail.com
Anuj
femaquery@gmail.com
ankit doshi
(Querist)
18 February 2013
Thanks a lot for reply... One more doubt to confirm,
what if foreign director buys machinery on his name and send it to INDIA, can i show the purchase amount of machinery as unsecured loan??
Where to report such transaction??
Plz guide..
what if foreign director buys machinery on his name and send it to INDIA, can i show the purchase amount of machinery as unsecured loan??
Where to report such transaction??
Plz guide..
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