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fema act
Can an indian co issue shares to non resident against loan and interest payable
Replies (4)
yes, loan can be converted into equity
bt where is it written
Persons residing in India are free to buy or sell foreign exchange for any current account transaction under Section 5 of the FEMA.
It is for the transactions except which the Central Government has prohibited using foreign exchange, like remittance of lottery winnings; remittance of income from racing/riding, etc. or any other hobby; remittance for purchasing lottery tickets. Read more about <a target='_blank' rel='nofollow' href="https://getlegalindia.com/fema-act/">FEMA act</a> in detail.
Yes, but lender should be Non Resident Indian(NRI)
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