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?

Answer rating: 100% (QA)

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