My friend ,managing travel business in Kuwait, would like to set up a private company in India for selling travel related products in India. He intends to source the capital -about Rs.25 lakhs- from his NRO funds in India. He does not want to repatriate the profits or capital ,in the event of sale of his share in the company. Is this possible? Somebody advised him that he should source the capital from NRI funds only , even if he does not intend to repatriate . I would be much obliged if a proper advice giving reference of relevant provisions of FEMA or other relevant statutes,is provided.Also Information regarding mandatory requirements like filing with authorities like RBI , would be much appreciated.