Declaration of immovable property acquired by non-residents must be filed with RBI, triggering regulatory compliance. Form IPI mandates that a non-resident acquirer submit a duplicate declaration to the Reserve Bank within ninety days of acquisition, enclosing certified copies of the Bank's approval. The form requires the acquirer's name and address; description and precise location of the property; purpose of acquisition and RBI permission reference; acquisition date; mode of acquisition; seller/lessor identity and citizenship; purchase price and sources of funds. The declarant must certify the accuracy of particulars and confirm no portion of the property is leased or used by others, and provide signature, place, date and enclosures.
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.
Declaration of immovable property acquired by non-residents must be filed with RBI, triggering regulatory compliance.
Form IPI mandates that a non-resident acquirer submit a duplicate declaration to the Reserve Bank within ninety days of acquisition, enclosing certified copies of the Bank's approval. The form requires the acquirer's name and address; description and precise location of the property; purpose of acquisition and RBI permission reference; acquisition date; mode of acquisition; seller/lessor identity and citizenship; purchase price and sources of funds. The declarant must certify the accuracy of particulars and confirm no portion of the property is leased or used by others, and provide signature, place, date and enclosures.
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