https://www.taxtmi.com/acts?id=37901 Rule 3 prohibits a person resident outside India from making investment in India except as permitted under the Act, rules or regulations. Investments validly made and held at commencement are deemed to have been made under these Rules and remain governed by them. The Reserve Bank may, on application and for sufficient reasons, permit an investment subject to necessary conditions. en-us Sat, 19 Oct 2019 16:06:38 +0530 Mon, 31 Aug 2026 17:31:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=37901 Rule 3 prohibits a person resident outside India from making investment in India except as permitted under the Act, rules or regulations. Investments validly made and held at commencement are deemed to have been made under these Rules and remain governed by them. The Reserve Bank may, on application and for sufficient reasons, permit an investment subject to necessary conditions. Act-Rules FEMA Sat, 19 Oct 2019 16:06:38 +0530 https://www.taxtmi.com/acts?id=37901