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of <h1>Foreign entities' property acquisition and transfer in India regulated under FEMA Section 6(3)(i) and Section 47(2)</h1> The Reserve Bank of India issued regulations under the Foreign Exchange Management Act, 1999, governing acquisition and transfer of immovable property in India by foreign entities. These regulations, designated as FEMA 21/2000-RB and published as G.S.R. 407(E), were notified on May 3, 2000, and became effective June 1, 2000. The regulations were formulated using powers conferred under Section 6(3)(i) and Section 47(2) of the parent Act, establishing the regulatory framework for foreign exchange management concerning real estate transactions involving non-residents.
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