03 November 2010
One of my friend runs a sole-proprietor business of clearing & forwarding agent in India. His previous boss who is non-resident Indian wish to invest some money in my friends business. Whether he can invest the money in India in partnership business. If not, whether shares of a private company be allotted to a non-resident indian by introducing share capital in Indian company. If any other way, please advise the same.
NRI's can invest in India either under automatic route or approval depending upon the type of sector he is investing into. Shares can be allottd to NRIs
CAclubindia
