TMI BlogLoan from NRI to a private companyX X X X Extracts X X X X X X X X Extracts X X X X ..... An indian pvt Ltd. co. wants to accept a loan of Rs. 1 crore from an NRI.can it be accepted and what are terms conditions formalities? - Reply By ASHOK - The Reply = Since it is a company limite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by shares, kindly first be guided by the provisions of Sec 58A of the Companies Act, 1956 , before you avail the loan from the NRI, if he is not a shareholder of the company... Hencee clarify his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... status vis a vis the co - Reply By Bakul Gandhi - The Reply = The company has to comply with the Companies Acceptance of Derposit Rules, 1975 u/s 58A of the Companies Act 1956. It has to als ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o comply with the Foreign Exchange Management Act, 1999 . The deposits can ot be accepted from NRIs on Repatriation basis as it is discontinued from 2004. Again other RBI guidelines provide that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... borrowing should not be for relending,, agriculture/plantaion activity or real esatate business. - Loan from NRI to a private company - Query Started By: - gurmukh kotwani Dated:- 9-12-2008 FEMA - F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oreign Exchange Management - Got 2 Replies - FEMA - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxman ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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