Prohibition on Transfer of Immovable Property in India

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Full Text of the Document

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.... Provided that:- (a) the Reserve Bank may, for sufficient reasons, permit the transfer subject to such conditions as may be considered necessary; (b) a bank which is an authorised dealer may, subject to the directions issued by the Reserve Bank in this behalf, permit a person resident in India or on behalf of such person to create charge on his immovable property in India in favour of an ove....