Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lifesys Limited, a billion-dollar, Indian company wishes to create a chair in a reputed university in the U.S. This chair is for the computer science

Lifesys Limited, a billion-dollar, Indian company wishes to create a chair in a reputed university in the U.S. This chair is for the computer science department. The company expects to obtain your advice in regard to the following with reference to the FEMA, 1999.
a)Is such “chair” creation permissible?
b)What is the maximum amount that can be denoted for such a chair?
c)Any formalities to be complied with?

Step by Step Solution

3.50 Rating (170 Votes )

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below As per Schedule III of the Foreign Exch... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

9th Edition

978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062

More Books

Students also viewed these Economics questions