Repatriation of foreign exchange: sell to authorised person, retain with authorised dealer, or discharge foreign liability. On realisation of foreign exchange a person must repatriate it to India by selling to an authorised person for rupees, retaining it in an account with an authorised dealer as specified by regulatory specification, or using it to discharge a foreign exchange denominated debt as specified; receipt in India of rupee payment from an overseas bank or exchange house account maintained with an authorised dealer is deemed repatriation.
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.
Repatriation of foreign exchange: sell to authorised person, retain with authorised dealer, or discharge foreign liability.
On realisation of foreign exchange a person must repatriate it to India by selling to an authorised person for rupees, retaining it in an account with an authorised dealer as specified by regulatory specification, or using it to discharge a foreign exchange denominated debt as specified; receipt in India of rupee payment from an overseas bank or exchange house account maintained with an authorised dealer is deemed repatriation.
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