Subscription to Memorandum of Asso. (MOA) FEMA
Posted @ January 10, 2013, 6:33 am under (FEMA (RBI))
The RBI has issued a Circular A.P. (DIR Series) Circular No. 36 dated 26 September 2012 whereby it has now clarified that in cases, where non-residents (including non-resident Indians) proposing to make investment in an Indian company in compliance with the provisions of the Companies Act, 1956, by way of subscription to Memorandum of Association (MOA), such investments may be made at face value.