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Loan from directors

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 December 2012 Please let me know the Procedure for getting Loan from foreign Director to a Public Limited Company ? According to me the Loan from Directors for a public limited company does not fall under deposits !

Thanks,
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CA UMESHKUMAR R. ACHARYA

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CA UMESHKUMAR R. ACHARYA (Expert)
04 January 2013
Please refer to FEMA act under which company has to obtain permission from R.B.I. for such deposit.

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