Resident power of attorney authority to remit from NRE and FCNR B accounts to the non-resident account holder. Banks authorised to deal in foreign exchange may permit a resident power of attorney holder, when specifically authorised, to remit through normal banking channels funds out of balances in NRE accounts to the non-resident account holder, and the same permissions and conditions apply, mutatis mutandis, to FCNR B accounts.
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.
Resident power of attorney authority to remit from NRE and FCNR B accounts to the non-resident account holder.
Banks authorised to deal in foreign exchange may permit a resident power of attorney holder, when specifically authorised, to remit through normal banking channels funds out of balances in NRE accounts to the non-resident account holder, and the same permissions and conditions apply, mutatis mutandis, to FCNR B accounts.
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