Investment money through NRO account

[Isha Riwal]

Dear All,

If a private company is receiving money from NRO account will that be deemed as on non repatriable basis? 

Also fema compliances are to be done for the same? 

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Regards, 

CS Isha J. Riwal

Mem No.: 43918

Contact No.: 7990451383

[Abnish Kumar & Associates]

It is not FDI and it is treated as domestic Investments. 

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Thanks and Regards

Abnish Kumar |ACS, LLB, B.Com(H)

Abnish Kumar & Associates

Practicing Company Secretaries

D-122, First Floor,  

Sector-7, Noida-201301

Phone No: +91 120 4315197

Mob: +91 8368885360, +91 8750604727

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" You have to grow from the inside out. None can teach you, non can make you spiritual. There is no other teacher but your own soul. You cannot believe in God until you believe in yourself. The world is the great gymnasium where we come to make ourselves strong."                                                                                                                                                                    -Swami Vivekananda

[Amit Jagan]

It is not considered as FDI. Take a clarification letter from the investor that the investment is made from NRO account for your perusal.

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[Isha Riwal]

Ok so FC GPR will not be filed. Please correct if i am wrong

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[Manoj Sharma]

Investment by PIO and NRIs on a non-repatriable basis is considered a domestic investment. No additional compliance. But the money must come by inward remittance from foreign, NRE or NRO accounts.

[Isha Riwal]

Thank you all for prompt reply

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