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Query

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(Querist)
31 October 2012 Can a foreign national (U.S. citizen), who is a director &
shareholder in an indian private limited company, give loan to the
said company by bringing in money in foreign currency ?

Can this loan be utilised for fulfilling the working capital
requirements of the said company
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
02 November 2012 No foreign Director can not give loan unless the same falls under the ECB guidelines.

ECB Guidelines don't permit use of foreign funds for working capital purpose.

Anuj
femaquery@gmail.com
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