Repatriation of sale proceeds: permitted for eligible non-resident sellers subject to authorised dealer or regulatory permission and conditions. The regulation permits repatriation of sale proceeds of immovable property only with prior Reserve Bank permission for persons under the Act, or via an authorised dealer for NRIs/PIOs if conditions are met: acquisition complied with foreign exchange law, repatriation limited to amounts originally used for acquisition or their foreign currency equivalent from designated non-resident accounts, and residential property repatriation capped; it also allows authorised dealer-banks to permit sale and repatriation of proceeds by overseas lenders/security trustees to recover external commercial borrowings.
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 sale proceeds: permitted for eligible non-resident sellers subject to authorised dealer or regulatory permission and conditions.
The regulation permits repatriation of sale proceeds of immovable property only with prior Reserve Bank permission for persons under the Act, or via an authorised dealer for NRIs/PIOs if conditions are met: acquisition complied with foreign exchange law, repatriation limited to amounts originally used for acquisition or their foreign currency equivalent from designated non-resident accounts, and residential property repatriation capped; it also allows authorised dealer-banks to permit sale and repatriation of proceeds by overseas lenders/security trustees to recover external commercial borrowings.
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