Question ????

you have to complete the remaining period only if you follow the procrdures(108,109 etc)

If u join in future then d further period of articleship should be completed by u.

Completion of Article ship is not a condition to get your Exam Result.

So, your Result won’t be withheld even if you terminate your Article ship, now.

Once you are eligible for Exams (after completion of minimum period of Article ship), you can complete it anytime before applying for Membership, & at that time you need to complete its remaining part only.

The company has the plans to take 3 to 5 crores from Non resident indians and most of the NRI's are relatives of the indian directors The company is in a situation whether to take the money as the Loan from NRI's or take the money as an equity in to the company. What are the procedures to be followed on these fronts..

Dear Anuj, the indian private limited company wants to procure the funds from NRI's to the tune of 5 crores. What are the procedures to be followed in case if the company a) Takes the amount as a loan from the NRI

There are very detailed procedures and rules for the Company taking loan from NRI(ECB and NCD).The end use of funds, tenure and rate of interest is predefined in the same.Kindly consider whether you wish to go for the same.

b) Invite them as investors in to the company by allotting the equity.

Here it needs to be checked whether the money is being brought on repatriation basis or non-repatriation basis. Also the sector in which the Company is working shall also be needed to looked into.

Is there any condition that they should be relatives to the directors of the company.

No, there is no such requirement for bringing in equity.

thanx for ur valuable answers.

one last question _ one of my friend says that you have to rejoin within 6 months to fulfill the remaining period of articleship. If you rejoin after 6 month then you will have to start your articleship from the bottom.

Is this true??

No. That's not the requirement. One cannot go on doing articleship over and over again, unless otherwise specifically de-recognised by ICAI.

Originally posted by : Martianman
	you have to complete the remaining period only if you follow the procrdures(108,109 etc)

AS WELL ITS NOT EFFECT EXAM RESULT