Prohibition on Transfer of Immovable Property in India

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....therwise provided in the Act or Regulations, no person resident outside India shall transfer any immovable property in India:- Provided that (i) The Reserve Bank may, for sufficient reasons, permit the transfer, subject to such conditions as may be considered necessary. (ii) A bank which is an authorised dealer may, subject to the directions issued by the Reserve Bank in this ....

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....borrowing company only for its core business purposes overseas; (b) in case of invocation of charge, the Indian bank shall sell the immovable property to an eligible acquirer and remit the sale proceeds to the overseas lender. (iv) A person resident outside India who has acquired any immovable property in India in accordance with foreign exchange laws in force at the time of such....