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Dealing in foreign exchange [Section 3 of FEMA,1999]

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....on 3 Save as otherwise provided in this Act, rules or regulations made there under, or with the general or special permission of the Reserve Bank, no person shall- * (a) deal in or transfer any foreign exchange or foreign security to any person not being an authorised person; * As per section 2(ze) "transfer" includes * sale, * purchase, * exchange, * mortgage, * pledge, ....

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....he credit of non-resident. This is not permitted. * (c) receive otherwise through an authorised person, any payment by order or on behalf of any person resident outside India in any manner; * Explanation.-For the purpose of this clause, where any person in, or resident in, India receives any payment by order or on behalf of any person resident outside India through any other person (including ....

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