Mr. Arun Kumar, a software engineer from Bangalore, had worked with a US-based technology company in Silicon Valley for the past 4 years. In April…

Mr. Arun Kumar, a software engineer from Bangalore, had worked with a US-based technology company in Silicon Valley for the past 4 years. In April 2023, he returned to India to establish a technology startup, Global Ventures Private Limited. He maintained his foreign currency accounts in USA, containing earnings from his previous employment. His wife continues to work in USA. During August 2023, Mr. Kumar undertook several transactions: He received USD 200,000 from his US savings account to invest in his Indian startupHe gifted USD 75,000 to his brother in India for purchasing propertyHe imported specialized software equipment worth USD 150,000 from a Singapore-based supplier on 3 months' creditHe helped his wife (US-based) remit USD 40,000 for their daughter's higher education from a recognised university Global Ventures also set up a branch office in Singapore in October 2023, fully controlled and managed from its Bangalore headquarters. The company plans to raise foreign currency loans and explore various overseas investment opportunities. On the basis of above facts and by applying applicable provisions of the Foreign Exchange Management Act (FEMA), 1999, choose the correct answer (one out of four) of the following Multiple Choice Questions (MCQs 9-11, of 2 marks each) given herein under: