Statutary implications
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 March 2010
Hi experts,
I would like to know the statutary implications, if advance for share capital(received in foreign currencies)is not utilised within the specified time frame for the intended purpose and if the delay is over 2years.
Regards
I would like to know the statutary implications, if advance for share capital(received in foreign currencies)is not utilised within the specified time frame for the intended purpose and if the delay is over 2years.
Regards
24 March 2010
This kind of violation would be considered as violation of FEMA rules and would be viewed quite seriously.
Be careful about foreign money in India.
Be careful about foreign money in India.
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