Can A NRI can Subcribe Rs. 40000/- for shares of New Pvt. Limited Co. is there any permission/approval/intimation to any statutory body or it is allowed without any approval.
Regards
Anirudh
CS_Subra (CS) (25 Points)
22 May 2012Can A NRI can Subcribe Rs. 40000/- for shares of New Pvt. Limited Co. is there any permission/approval/intimation to any statutory body or it is allowed without any approval.
Regards
Anirudh
vivek
(CS)
(751 Points)
Replied 22 May 2012
It depends upon the cap provided by RBI in master circular, if it is allowed it could be done through automatic route.
Regards,
Vivek
CS_Subra
(CS)
(25 Points)
Replied 23 May 2012
The company would be trading of Liquor i.e. will run a wine shop. It is allowed or as the retail trade is not allowed so NRI can not invest. plz advice
vivek
(CS)
(751 Points)
Replied 23 May 2012
Retail trading is not allowed for FDI. But single brand trading is allowed and the limit for the same is 51% with FIPB approval (Refer Page No. 65 and 66 of Master Circular of RBI on FDI).
Regards,
Vivek
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