The NRI pays the subscription money in INR in India. Is this considered as Foreign Direct Investment

RAMKUMAR (Student) (15 Points)

30 December 2023  

A Non-Resident Indian (NRI) and a person residing in India form a private company in India. The NRI pays the subscripttion money in INR in India. Is this considered as Foreign Direct Investment (FDI), and is the transaction legal?