Its the gift vouchers. Like, in some of the malls, they issue gift vouchers saying u can buy upto Rs. 500 using the vouchers. Hope your first query is clarified?
The Complete issue is like this. A foreign investor has invested in the beauty salon in india. It is the major share holder of the salon. One of the CFO investment advisor of the foreign venture is residing in India. Now, the issue is the salon wants to sell the gift vouchers which is encashable only in the salon and using that the products cannot be bought.
Can salon sell the gift vouchers? bcoz its major share holder is foreign investor. A company or firm whose major portion of investment is held by Foreign ventures can sell gift vouchers or not is my query now? is there any fema regulation for this transaction
CAclubindia
