Non-applicability of overseas investment rules: exclusions for IFSC financial institutions and investments from resident foreign currency accounts. The Overseas Investment Rules do not apply to investments by a financial institution in an IFSC; to acquisition or transfer of investments outside India made out of a Resident Foreign Currency Account; to investments made out of foreign currency resources held abroad by a person employed in India for a specified assignment or duration not exceeding three years; or to investments made in accordance with the relevant provision of the Act. 'Financial institution' has the meaning given in the International Financial Services Centres Authority Act, 2019.
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.
Non-applicability of overseas investment rules: exclusions for IFSC financial institutions and investments from resident foreign currency accounts.
The Overseas Investment Rules do not apply to investments by a financial institution in an IFSC; to acquisition or transfer of investments outside India made out of a Resident Foreign Currency Account; to investments made out of foreign currency resources held abroad by a person employed in India for a specified assignment or duration not exceeding three years; or to investments made in accordance with the relevant provision of the Act. "Financial institution" has the meaning given in the International Financial Services Centres Authority Act, 2019.
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