Query
This query is : Resolved
megha thakkar
(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
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
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
ECB Guidelines don't permit use of foreign funds for working capital purpose.
Anuj
femaquery@gmail.com
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