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Foreign remitance

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11 January 2014 Dear members,

Can a indian private company own a wholly owned subsidiary outside India by purchasing the entire share capital of the company. and the payment is made from normal bank account> is there any clause of making a payment from RFC A/c or the company has to take permission for payment from RBI

11 January 2014 IT IS NOT A CAPITAL TRANSACTION HENCE NO PERMISSION IS REQUIRED.

BUT PERMISSION WILL BE REQUIRED IF PAYMENT EXCEDDS SOME EXTENT.

11 January 2014 but the payment is for the capital contribution of the foreign entity. and what is that extent any assumption




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