Investment by Russian foreign director in his indian co. incoroporated with one indian director

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SUNIL KUMAR SAXENA (Querist)

26 November 2022 hello all could u please guide that whether a Foreign Russian director and sharholder holding 99% shareholding in Rs 2lakh share capital co. Now to purchase new machinery in india in what way he can invest his funds from Russia to India. i.e whther by increase of authorized share capital or External commercial Borrowings (ECB). what are procudures and legal compliance with ROC, RBI AND OTHER AUTHORITIES . LOOKING FORWARD FOR RESPONSE

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

26 November 2022 By increase of authorized share capital and rights issue he can increase the share capital.
Local share holder can refrain from subscribing right issue.
ROC formalities will be taken care of by the company secretary.
RBI filing done by the banks.
Annual information filing of income tax needs to be filed for increase in share capital.

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