To Start a new company
This query is : Resolved
06 January 2011
A Foreign Company wants to start a new company in India and the main aim is to deal in investments
Since RBI dosent allow foreign company to deal in investments the referred company will be an Indian Company
1. with 2 or more Indian directors
2. 51% of the shareholding by Indians
Can this company borrow 100% of necessary
loan in Foreign Currency?
Since RBI dosent allow foreign company to deal in investments the referred company will be an Indian Company
1. with 2 or more Indian directors
2. 51% of the shareholding by Indians
Can this company borrow 100% of necessary
loan in Foreign Currency?
07 January 2011
If it's a private company - no limits. It can borrow any amount.
However if it's a public company then subject to the approval of the members where the amount to be borrwed together with the moneys already borrowed exceeds the aggregage of the paid up capital and its free reserves (293(1)(d)).
However if it's a public company then subject to the approval of the members where the amount to be borrwed together with the moneys already borrowed exceeds the aggregage of the paid up capital and its free reserves (293(1)(d)).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
