Restriction on acquisition of foreign immovable property: resident Indians require RBI permission before any transfer or acquisition. Regulation 3 prohibits any person resident in India from acquiring or transferring immovable property situated outside India without the general or special permission of the Reserve Bank, subject only to express allowances in the Act or these Regulations.
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.
Restriction on acquisition of foreign immovable property: resident Indians require RBI permission before any transfer or acquisition.
Regulation 3 prohibits any person resident in India from acquiring or transferring immovable property situated outside India without the general or special permission of the Reserve Bank, subject only to express allowances in the Act or these Regulations.
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