03 August 2013
my client has planning to take money from foreign investor to set up a new buisness in future. the same is received in currently in the pvt ltd company. the foreigner is just a investor i.e. sleeping partner. my client has paid up necessary fees for registration of this transcation abou 1.25 lacs.
now my question is.
1. wether a pvt ltd comapny can take a loan from a foreign investor who is not a director, member or relative.
2. what procedure to be followed by the company to take amount from the investor. 3. what document to prepared . 4. which resolution to be passed. 5. can a company first issue the shares to investores and then take a loan is it possibel? because issuing share to him become a shareholder. and then we take money as a unsecured loan.
6. wether tds provision attrated to this.
pls reply as soon as possibel because it is urgent.
04 August 2013
Here kindly see that FEMA shall come into picture and loan from foreign national or NRI is not allowed unless the ECB norms are complied with.
10 August 2013
i know that fema applicable but my questioned still unanswered. my client has planning to take money from foreign investor to set up a new buisness in future. the same is received in currently in the pvt ltd company. the foreigner is just a investor i.e. sleeping partner. my client has paid up necessary fees for registration of this transcation abou 1.25 lacs.
now my question is.
1. wether a pvt ltd comapny can take a loan from a foreign investor who is not a director, member or relative.
2. what procedure to be followed by the company to take amount from the investor. 3. what document to prepared . 4. which resolution to be passed. 5. can a company first issue the shares to investores and then take a loan is it possibel? because issuing share to him become a shareholder. and then we take money as a unsecured loan.
6. wether tds provision attrated to this.
pls reply as soon as possibel because it is urgent.
CAclubindia
