Juhi Pant (Company Secretary) (132 Points)
12 August 2014One of our newly incorporated Company, which has yet not taken certificate of commencement wants to make overseas investment of 60,000 US $.
So, my ques is whether -
1) it can make investment overseas without obtaining certificate of commencement
2) If yes, than what fema compliances it has to follow
Gagan Deep Singh
(CHARTERED ACCOUNTANT)
(1190 Points)
Replied 13 August 2014
Under Comp. Act 2013, ALL companies cannot start business or excercise any borrowing powers until they get certificate of commencement. Therefore u cannot make overseas investment.
Juhi Pant
(Company Secretary)
(132 Points)
Replied 18 August 2014
CAclubindia
