Query Regarding RBI/FEMA Applicability, so plz try to solve it
A Pvt. Ltd. company under general permission was incorporated in 2011 with 95% NRI fund and 5% of Indian resident.
The co. is not making any profit for last three years and taking unsecured loan from same NRI to meet the overheads.
Querries:
1-Is any implication of RBI/Fema for such loan.
2-If yes, what is it.
Thanks & Regards
Narayan Daga
Loans for meeting working capital needs are not permitted.
anuj
femaquery @ gmail.com
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