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ravi teja thota   12 September 2016

Nro account

Dear Sir, My client who is a US resident has an NRO and NRE account in India. He recently sold a property in India and transferred the funds to NRO account. Now he wants to withdraw the said funds from NRO account and give the withdrawn amount to his friend in India as Unsecured loan. Can you just brief me about the procedure to be followed in this case?


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adv.bharat @ PUNE

adv.bharat @ PUNE (Lawyer)     12 September 2016

Ravi ji ur friend need to give cheque to his friend for unsecured loan.

While transfering amount from NRO account u need to give cheque or DD only.

As property is sold in India then the same procedure is followed.

If u like my suggestion then kindly give THANK on my profile.


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