Acquisition of immovable property abroad requires prior regulatory approval, subject to specified exceptions and company remittance limits. Acquisition or transfer of immovable property outside India by a person resident in India requires prior approval of the Reserve Bank, subject to specified exceptions including gifts, inheritance, RFC-account-funded purchases, joint acquisition with a non-resident without outflow of Indian funds, and certain pre-1947 holdings; Indian companies with overseas offices may acquire property within prescribed remittance limits for initial and recurring expenses.
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.
Acquisition of immovable property abroad requires prior regulatory approval, subject to specified exceptions and company remittance limits.
Acquisition or transfer of immovable property outside India by a person resident in India requires prior approval of the Reserve Bank, subject to specified exceptions including gifts, inheritance, RFC-account-funded purchases, joint acquisition with a non-resident without outflow of Indian funds, and certain pre-1947 holdings; Indian companies with overseas offices may acquire property within prescribed remittance limits for initial and recurring expenses.
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