https://www.taxtmi.com/caselaws?id=775578 Section 31 of the Foreign Exchange Regulation Act, 1973 restricts acquisition, holding, transfer or disposal of immovable property by a non-citizen without prior Reserve Bank permission, but Section 47 preserves the validity of a contract where the agreement itself does not defeat the statutory scheme and only the eventual conveyance needs approval. On that reasoning, an agreement for sale that does not itself transfer title and contemplates compliance before execution of the conveyance can be specifically enforced, and the Act does not bar institution of the civil suit. Section 78 also did not exclude civil court jurisdiction on these facts. en-us Tue, 22 Jul 2025 00:00:00 +0530 Mon, 28 Jul 2025 08:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775578 Section 31 of the Foreign Exchange Regulation Act, 1973 restricts acquisition, holding, transfer or disposal of immovable property by a non-citizen without prior Reserve Bank permission, but Section 47 preserves the validity of a contract where the agreement itself does not defeat the statutory scheme and only the eventual conveyance needs approval. On that reasoning, an agreement for sale that does not itself transfer title and contemplates compliance before execution of the conveyance can be specifically enforced, and the Act does not bar institution of the civil suit. Section 78 also did not exclude civil court jurisdiction on these facts. Case-Laws FEMA Tue, 22 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775578