Nyamath
21 January 2010 at 13:32
can the financial instituions raise objections against the scheme of amalgamation..??
Raja Rajeswari S
20 January 2010 at 13:19
Kindly clarify over the following:
FEMA regulations:
1.Investment in Partnership Firm / Proprietary Concern
A Non-Resident India17(NRI) or a Person of Indian Origin18 (PIO) resident outside India can invest by way of contribution to the capital of a firm or a proprietary concern in India on non-repatriation basis provided;
i. Amount is invested by inward remittance or out of NRE / FCNR(B) / NRO account maintained with Authorised Dealers / Authorised banks.
ii. The firm or proprietary concern is not engaged in any agricultural / plantation or real estate business (i.e. dealing in land and immovable property with a view to earning profit or earning income there from) or print media sector.
iii. Amount invested shall not be eligible for repatriation outside India.
2.Investments with repatriation benefits
NRIs / PIO may seek prior permission of Reserve Bank19 for investment in sole proprietorship concerns / partnership firms with repatriation benefits. The application will be decided in consultation with the Government of India.
3. Investment by non-residents other than NRIs / PIO
A person resident outside India other than NRIs / PIO may make an application and seek prior approval of Reserve Bank20, for making investment by way of contribution to the capital of a firm or a proprietorship concern or any association of persons in India. The application will be decided in consultation with the Government of India.
I) As per the above clause 2, what is the procedure( forms to filed) to get approval from the GOI to avail the repatriation benefits by NRI/POI? Can he repatriate the income earned over the investment without any GOVT approval?
II) As per the above clause 3, what is the procedure( forms to filed) to get approval from the GOI to enalbe a person outside India other than NRI/POI to invest in a partnership concern in India? Can this guy repatriate the invsetment and earnings without Govt's approval? If not, how to get permission for such repatriation?
kindly brief me the procedure to get approval for the above two cases .
regards
RAJA RAJESWARI S
Raja Rajeswari S
19 January 2010 at 19:24
1)Can a person other than a NRI/POI make investment in india by way of capital contribution in a partnership firm? If so what is the procedure to get approval?
2)CAn above person repatriate the invsetment and the income earned over it? What is the procedure to get approval for the above?
3)CAn the above person give funds in the form of loan to the partnerhip firm in India? If so, how to proceed to get such loan and what interest should we pay and what are the pay channels?
Kindly clarify
regards
Reetu Dwivedi
19 January 2010 at 14:42
Is is necessary to register Leave & Licence Agreement in Maharashtra?Is rules very from state to state.
sneha
18 January 2010 at 17:27
Can anybody tell me, what is the difference between Indemnity and penalty
L R Sharma
17 January 2010 at 12:21
Sir,
Can I be guided for a petition to be filed in CLB for not honoring a commitment approved by BOD in a meeting by erstwhile GLOBAL TRUST BANK (during its legal existence) later merged with Oriental Bank of Commerce. The proposal was approved by the GTB board and recorded in its minutes book The same was communicated to my clients. OBC now is reluctant to honor the approval which was approved by GTB during its lawful and legal existence.
I want a direction from CLB directing OBC to honor the BOD approval which was done during legal existence of GTB.
Under what sections and provisions the petition is to be filed before the CLB and what are the other prerequisites in this case?
What shall I do to get a single point order for OBC to comply.
Regards,
L R Sharma
jayesh ahire
16 January 2010 at 18:17
If a person leases his commercial property to any private company which wants to make it its registered office.In that case what will be the lessors be liability if there any problem (like any scam/litigations)in the private company
ashish
16 January 2010 at 10:32
dear all thanx to all of for your taking part in this knowlegable discussion.
I would like to know that if a director working with a company as an executive director that means he is working as an employee of the company and if he is working as an employee of the company and also a director is it means that he is WTD and we have to comply all the requirements of section 198, 268, 269, 309 and schedule XIII wheather the paid up capital of company is less than 5 crores?
please suggest.
Member (Account Deleted)
15 January 2010 at 19:00
i would like to start my own educational consultancy in the premises of mangalore ,karntaka ,so please tell me the procedure to to get it start and registration procedure..thanking you...yours faith fully
shinu k omkar
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