referring to the provisions of foreign exchange management act 1999, state the kid of approval required:-
:- XYZ limited, a company incorporated in India under the companies act 1956, want to withdraw U.S. $500000. for a short-term credit to its overseas office situated in Australia.
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Which approval will be required for this question? Topic - FEMA,1999 LAW
Replies (5)
You should go for ECB.
i didnt get it
In my view resident of India is not allowed to borrow from out side India except through borrowing through External Commercial Borrowing (ECB) Scheme.
what should be answer according to FEMA.
As given above.
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