Foreign director

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ankit doshi (Querist)
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17 February 2013 Can a private limited company take loan from foreign director?
If yes, what are the rbi / fema compliance to be done?

Ajay Mishra

Ajay Mishra (Expert)
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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.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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18 February 2013 The loan from Foreign director can be received only when the prescribed conditions under ECB are fulfilled.

Anuj
femaquery@gmail.com

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ankit doshi

ankit doshi (Querist)
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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..