We have a private limited company. We want to take loan from a foreigner. Pls. explain can we do so under FEMA assuming that person is a shareholder in the company. Is there any time limit for repayment?
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Loan from foreigner
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Loan from shareholders will be treated as 'deposit' and you will have to follow procedure laid down in Sec.73(2) of Companies Act 2013 besides following FEMA regulations.
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