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Loans by Indian companies to non-resident branch employees permitted in foreign currency under staff welfare loan rules and standard terms. Indian companies are granted general permission to provide foreign currency loans to employees of their overseas branches for personal purposes, treating such employees as persons resident outside India, and subjecting those loans to the lender's Staff Welfare Scheme/Loan Rules and the same terms and conditions applicable to staff resident in India and abroad.
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.
Loans by Indian companies to non-resident branch employees permitted in foreign currency under staff welfare loan rules and standard terms.
Indian companies are granted general permission to provide foreign currency loans to employees of their overseas branches for personal purposes, treating such employees as persons resident outside India, and subjecting those loans to the lender's Staff Welfare Scheme/Loan Rules and the same terms and conditions applicable to staff resident in India and abroad.
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