allotment of shares to NRI

Hemant Singh (PCS) (35 Points)

06 April 2009  

dear all,

a person resident outside india was a subscriber to the MOA of  an Indian Company. He paid incorporation fee through his credit card. now he wants the shares of the company against that amount. whether this is possible or the company need to remitt the money first and then to get the allotment money through normal banking channel.  kindly advise.