Dear Sir / Madam,
We have received 30L Unsecured Loan from Shareholder in 2019 from his ICICI Bank. Now the company is paying his 30L without interest into his Foreign Account instead of ICICI Bank.
Can you please let me know is there any obligation if we transfer his amount in Foreign account instead of ICICI Bank from where we received amount.
Regards.
no rules mentioned here. probably you can
Reserve Bank of India - Foreign Exchange Management Act Notification (rbi.org.in)
Fytomax Nutrition Private Limited
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