Yes he can do it if the company is regd in India, if not registration with SEBI essential.
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Yes you can do it.
If the company is incorprated in India and majority with Indian shareholders no prolbem.
If majority is even NRI , you have to take permission from SEBI for investment in share market.
For other invesments there is automatic approval window.
Mr. Bhupendra, it is useful for you to visit the website of the Investment Commission of India at http://www.investmentcommission.in/
you will be required the prior permission of RBI also.
There are a couple of restrictions imposed under FEMA which will be required to be looked into, also certain specific approvals may be required to be taken depending upon the ownership and capital contribution structure of the Company.
As regards NBFC is concerned any NRI can set up a finance company in India. However, RBI & MOC has made laws stringent now for setting up of the same. NRI intending to set up an Investment or Finance company needs compulsorily two directors who are resident directors stationed in India. Funds from foreign country are regulated by SEBI and MOC as per norms and that it should not be coming from Cayman Island and Mauritius as these countries have been black listed. Funds coming from USA need to have clearance from Federal Government and fund regulating authorities.