Legal Question in Banking Law in India

Thank you for your replies and apropos one in particular -

As far as I was aware, the question had been stated quite clearly but I will endeavour again to be more precise.

1. What is the procedure for a foreign director of an indian company to be approved by the RBI?

2. How long does this procedure take and on what grounds could it be refused?

3. Once RBI approval of the foreign director has been obtained, what is the procedure for inward remittance foreign funds into the indian company account that director's shareholding?

4. What is the procedure for transferring foreign funds, other than for allotment of shares, into the same company account by the same foreign director?

If this is relevant, the other director(s) are indian nationals.

I hope this clearer.


Asked on 2/18/10, 5:30 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

In a commercial transaction of this magnitude, an opinion from this Forum may not be sufficient. We try to help people who may need legal help and do not reply to help students in their 'assignments'. However, if you have a personal problem of this magnitude, you may want to engage a lawyer to pursue your remedies.

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Answered on 2/18/10, 7:44 am


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