FEMA PROVISIONS

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Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2011 Can a NRI advance loan to partnership firm in India in which he is a partner? Is capital introduction by a NRI partner is repatriable?

CA. Anuj Gupta (Expert)
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03 June 2011 No, the partner cannot do so .

Also for repatriating the capital PRIOR approval from RBI is needed.

Anuj
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