21 December 2010
NRIs are permitted to directly invest in proprietary/partnership concerns as also in shares/debentures of Indian companies. They are also permitted to make portfolio investments i.e. purchase of shares/debentures of Indian companies through stock exchanges. These facilities are granted both on repatriation and non-repatriation basis.
21 December 2010
Indian companies have been granted general permission to accept investments on non-repatriation basis, in shares/convertible debentures by way of new/rights issue provided the investee company is not engaged in agricultural/plantation activity or real estate business (excluding real estate development i.e. development of property and construction of house) or chit fund or is not a Nidhi company
21 December 2010
However, the firms/companies concerned are required to file declarations with Reserve Bank in form DIN giving particulars of the investments made, within ninety days from the date the investments were made.
21 December 2010
Yes he can be a majority shareholder and also a director of the company. The money should be brought through Authorised Dealers. Once the shares are alloted Form 2 should be filed with ROC and FCGPR with RBI.
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