Acquisition of immovable property by non-resident business establishments permitted with RBI declaration and conditional mortgage rights. Non-resident persons who have established a branch, office or other place of business in India (excluding liaison offices) may acquire immovable property necessary or incidental to their permitted activity, subject to compliance with applicable laws and filing a declaration with the Reserve Bank in the prescribed form; such property may be mortgaged to an authorised dealer as security for 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.
Acquisition of immovable property by non-resident business establishments permitted with RBI declaration and conditional mortgage rights.
Non-resident persons who have established a branch, office or other place of business in India (excluding liaison offices) may acquire immovable property necessary or incidental to their permitted activity, subject to compliance with applicable laws and filing a declaration with the Reserve Bank in the prescribed form; such property may be mortgaged to an authorised dealer as security for borrowings.
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