One of our newly incorporated Company, which has yet not taken certificate of commencement wants to make overseas investment of 60,000 US $.
So, my ques is whether -
1) it can make investment overseas without obtaining certificate of commencement
2) If yes, than what fema compliances it has to follow
Under Comp. Act 2013, ALL companies cannot start business or excercise any borrowing powers until they get certificate of commencement. Therefore u cannot make overseas investment.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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