ansar razak (Practice) (29 Points)
18 October 2019How can Indian Private Ltd company accept loan from a director who is foreign citizen as well as shareholder (holding 1/3rd)?
How can Indian Private Ltd company accept loan from a company/Firm incorporated outside India in which the above mentioned director is the major shareholder?
Whether it's possible?
Compliance as per FEMA, Companies Act & Other Compliance?
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 25 January 2020
Yes the company borrow the loan from Director though he is NRI/ Foreign national via following the ECB Guidelines..
You can have a view at www,corporatedrafting.com to know the whole procedure and to download any documents or drafts thereon
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 05 February 2020
Yeah sure you can please
CAclubindia
