https://www.taxtmi.com/forum/issue?id=972 A private company must determine the NRI lender's status; if not a shareholder, the transaction falls under Sec 58A and the Companies (Acceptance of Deposits) Rules, 1975, requiring compliance. The company must also comply with foreign exchange rules: repatriation basis acceptance from NRIs is discontinued and RBI guidelines bar borrowings for relending, agriculture/plantation, and real estate, together with applicable procedural and reporting formalities. en-us Tue, 09 Dec 2008 14:17:57 +0530 Thu, 23 Jan 2025 15:58:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=972 A private company must determine the NRI lender's status; if not a shareholder, the transaction falls under Sec 58A and the Companies (Acceptance of Deposits) Rules, 1975, requiring compliance. The company must also comply with foreign exchange rules: repatriation basis acceptance from NRIs is discontinued and RBI guidelines bar borrowings for relending, agriculture/plantation, and real estate, together with applicable procedural and reporting formalities. Discussion-Forum FEMA Tue, 09 Dec 2008 14:17:57 +0530 https://www.taxtmi.com/forum/issue?id=972