Permission to hold foreign general insurance: residents allowed conditionally, with repatriation of proceeds required through banking channels. Regulation 3 allows residents to hold foreign-issued health insurance within Liberalised Remittance Scheme limits, prohibits holding foreign insurers for insurance of Indian property or Indian-registered vessels without IRDA permission, permits other foreign-issued general insurance only with Central Government permission, and requires repatriation through normal banking channels of maturity proceeds or claim amounts where premiums were remitted from India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Permission to hold foreign general insurance: residents allowed conditionally, with repatriation of proceeds required through banking channels.
Regulation 3 allows residents to hold foreign-issued health insurance within Liberalised Remittance Scheme limits, prohibits holding foreign insurers for insurance of Indian property or Indian-registered vessels without IRDA permission, permits other foreign-issued general insurance only with Central Government permission, and requires repatriation through normal banking channels of maturity proceeds or claim amounts where premiums were remitted from India.
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