We have a private limited company. We want to take loan from a foreigner. Pls. explain can we do so under FEMA assuming that person is a shareholder in the company. Is there any time limit for repayment?
We have a private limited company. We want to take loan from a foreigner. Pls. explain can we do so under FEMA assuming that person is a shareholder in the company. Is there any time limit for repayment?
Loan from shareholders will be treated as 'deposit' and you will have to follow procedure laid down in Sec.73(2) of Companies Act 2013 besides following FEMA regulations.
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