Section 7(3) in The Foreign Exchange Management (Deposit) Regulations, 2000
(3)A company registered under the Companies Act, 1956 (1 of 1956), or a body corporate a proprietary concern or a firm in India may accept deposits from a non-resident Indian on non-repatriation basis, subject to the terms and conditions mentioned in Schedule 7.] [Inserted by Notification No. G.S.R. 798 (E) dated 19.10.2012 (w.e.f. 16.7.2012)]
