Foreign currency employee loans permitted for overseas branch staff under employer staff welfare rules and applicable domestic terms. The Amendment inserts Sub Regulation (6) in Regulation 5 permitting Indian companies to grant loans in foreign currency to employees of their branches outside India for personal purposes, provided such loans are granted in accordance with the lender's Staff Welfare Scheme/Loan Rules and other terms and conditions applicable to its 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.
Foreign currency employee loans permitted for overseas branch staff under employer staff welfare rules and applicable domestic terms.
The Amendment inserts Sub Regulation (6) in Regulation 5 permitting Indian companies to grant loans in foreign currency to employees of their branches outside India for personal purposes, provided such loans are granted in accordance with the lender's Staff Welfare Scheme/Loan Rules and other terms and conditions applicable to its staff resident in India and abroad.
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