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Will appear before ED once legal process over: Former Maharashtra home minister Anil Deshmukh | Mumbai News

Former home minister Anil Deshmukh on Thursday defended his “failure” to appear before the Enforcement Directorate five consecutive times in a money l ....

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RBI nod before foreign national transacting in real estate mandatory: SC

RBI nod before foreign national transacting in real estate mandatory: SC
By
IANS
|
Published on
Wed, Mar 17 2021 13:21 IST
|
3 Views
Reserve Bank of India (RBI). (File Photo: IANS). Image Source: IANS News
New Delhi, March 17 : The Supreme Court has held that the condition predicated in Section 31 of the 1973 Act of obtaining previous general or special permission of the RBI for transfer or disposal of immovable property situated in India by sale or mortgage by a person, who is not a citizen of India, is mandatory.
Until such permission is accorded, in law, the transfer cannot be given effect to; and for contravening with that requirement, the concerned person may be visited with penalty under Section 50 and other consequences provided for in the 1973 Act , said a order of the Supreme Court by a bench presided by Justice A.M. Khanvilkar. ....

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