Reporting requirement for foreign-established branches acquiring immovable property: file Form IPI with RBI within ninety days. Persons resident outside India who have established a branch, office or other place of business in India (excluding liaison offices) and who acquire immovable property must submit Form IPI to the Reserve Bank of India within ninety days of acquisition; Form IPI requires acquirer and property details, purpose, mode of acquisition, seller particulars, purchase price and source of funds, acquisition date, and Reserve Bank permission details, and must be filed in duplicate with certified copies of any RBI approvals obtained under the Act.
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Provisions expressly mentioned in the judgment/order text.
Reporting requirement for foreign-established branches acquiring immovable property: file Form IPI with RBI within ninety days.
Persons resident outside India who have established a branch, office or other place of business in India (excluding liaison offices) and who acquire immovable property must submit Form IPI to the Reserve Bank of India within ninety days of acquisition; Form IPI requires acquirer and property details, purpose, mode of acquisition, seller particulars, purchase price and source of funds, acquisition date, and Reserve Bank permission details, and must be filed in duplicate with certified copies of any RBI approvals obtained under the Act.
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