Question ID : 38074

LOAN FROM NRI DIRECTOR TO A PRIVATE LIMITED COMPANY ON NON REPATRIABLE BASIS

A private limited company wants to avail loan in USD from its NRI director for working capital requirement. Loan is being availed on non repatriable basis and hence the company will repay the loan to the NRI Director in INR. can the company avail loan in such a manner. what would be the consequences under FEMA and Comapnies Act ??

posted by SRIMANTH KULKARNI on Apr 3 2019 12:00AM