CA. Jijo G. George (CA) (108 Points)
17 April 2010Suppose that, for incorporating a Pvt Ltd Company, the proposed foreign director (also a promoter) intends to introduce capital of Rs. 1L from abroad. Are there any specific requirements that are to be satisfied with regard to this foreign exchange transfer?
Thanks.
Kumar
(Legal Consultant)
(358 Points)
Replied 17 April 2010
You need to take care that the money should be brought in India through proper banking channel.No need to take any approval from RBI but intimation of receipt of money through the Auhtorised Dealer (Banker) of yours should be given to the RBI.Kindly check with your banker where the money is supposed to be transfered by the foerign promoters also.
Thanks & Regards
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