Loan from NRI Director

Pvt ltd 901 views 1 replies

Manager - Finance & Accounts

106 Points Joined April 2009

Hi,

Can anybody explain the provisions if NRI gives a loan to private limited company in india through his NRI account in india?

is NRI is eligible to give a loan through his NRI account in india?

and also the interest implication on this loan.

Many thanks

Replies (1)

Guest

Look at the provision of the RBI, No Bar as per the Companies Act, 1956

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