A multinational Joint venture company registered in India (JV of 2 US Companies) wants to avail line of credit from Banks in India. The Directors of one JV are US Citizens and The Directors of another JV are NRI (POI). Is their any restriction (banking regulation or other statutory) that Indian banks should not finance the JV. The company is ready to provided the securities of JV in India are given as security to Bank and also extend corporate guarantees of JV partners.
02 May 2011
Two companies incorporated in US have formed a JV company and invorporated in India. The directors of one company are US citizens and the Dirctors of another company are NRI. All the directors of both the companies are Directors in the JV company, which is incorporated in India.
02 May 2011
If the indian Company is registered under Companies Act ,1956 then Indian Banks should grant the loan subject to fulfillment of terms &conditions as they may impose.
CAclubindia
