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Loan from nro a/c

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 December 2013 Can a private company take loan form one of its directors through his NRO A/c in India? Please quote relevant law..
Thanks in advance!
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Ajay Mishra

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Ajay Mishra (Expert)
19 December 2013 I will suggest you to read Foreign Exchange Management (Borrowing and Lending in Rupees) Regulations, 2000 and Foreign Exchange Management (Borrowing and Lending in Foreign Exchange) Regulations, 2000, it will help you.

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