Prohibition on property acquisition by specified foreign citizens: RBI permission required except for short-term leases. Regulation 9 prohibits acquisition or transfer of immovable property in India by citizens of certain specified foreign countries without prior permission of the Reserve Bank, while excluding leases not exceeding five years. The regulation exempts Overseas Citizens of India (OCI) from the prohibition and defines 'citizen' to include both natural persons and legal entities, thereby applying the permission requirement to corporate entities of the listed nationalities.
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.
Prohibition on property acquisition by specified foreign citizens: RBI permission required except for short-term leases.
Regulation 9 prohibits acquisition or transfer of immovable property in India by citizens of certain specified foreign countries without prior permission of the Reserve Bank, while excluding leases not exceeding five years. The regulation exempts Overseas Citizens of India (OCI) from the prohibition and defines "citizen" to include both natural persons and legal entities, thereby applying the permission requirement to corporate entities of the listed nationalities.
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