2) If investment is done by the NRI himself than the investment amount can not be exceed the sectoral cap which is determined by RBI and in case investment done through his relatives resident in India than sectoral cap will not be applicable.
09 July 2011
1.NRI can invest directly in India, there are various facilities available for NRI's to invest in India.Also NRI's should not invest through relatives as the sum transferred by NRI to his relative shall be deemed to be loan, to which there are certain restrictions in FEMA.
2.Answered above ,the NRI should refrain from investing in India through relative.
CAclubindia
