https://www.taxtmi.com/acts?id=37928 Persons resident outside India are generally prohibited from transferring immovable property in India, but the Reserve Bank may permit transfers with conditions. Authorised dealers may allow creation of charges or mortgages to secure overseas lending, including for NRIs/OCIs who are directors, provided borrowing funds are used for the company's core overseas business and, if charge is invoked, the property is sold to an eligible acquirer with proceeds remitted to the overseas lender. Prior lawful acquisitions by non-residents may be transferred to residents through banking channels if the transferee is eligible. en-us Sat, 19 Oct 2019 16:28:12 +0530 Thu, 29 May 2025 16:07:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=37928 Persons resident outside India are generally prohibited from transferring immovable property in India, but the Reserve Bank may permit transfers with conditions. Authorised dealers may allow creation of charges or mortgages to secure overseas lending, including for NRIs/OCIs who are directors, provided borrowing funds are used for the company's core overseas business and, if charge is invoked, the property is sold to an eligible acquirer with proceeds remitted to the overseas lender. Prior lawful acquisitions by non-residents may be transferred to residents through banking channels if the transferee is eligible. Act-Rules FEMA Sat, 19 Oct 2019 16:28:12 +0530 https://www.taxtmi.com/acts?id=37928