loan taken from shareholder outside india
This query is : Resolved
CA Rahul Agrawal
(Querist)
24 January 2009
we have formed a pvt ltd company in india in which a company outside india is the shareholder now if we want to take loan from that company whether RBI permission is requred before bringing money or we can inform RBI after funds are brought into india.
CA. B.SRINIVASULU
(Expert)
25 January 2009
There are two routes based on the amount. One is automatic route. Receive money and inform RBI after receipt. Second is approval route. Approval will be given by Fipb foreign investment permission board, get the permission and recieve money.
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