A Legal Guide on suit of Specific Performance of Contracts in India by NRIs
NRIs often enter into agreements related to property, investments, business transactions, or other contractual arrangements in India. Problems arise when the other party fails to honour the agreement. For example, when a seller refuses to execute a sale deed after receiving an advance, a developer fails to complete an agreed transaction, or a contractual party […]
Acquisition and transfer of immovable property by NRI or OCI: A Complete guide for NRIs/OCIs
The Foreign Exchange Management Act, 1999 (FEMA), (Non-Debt Instruments) Rules 2019, prescribes specific conditions regarding the purchase, gift, inheritance and transfer of immovable property in India by persons resident outside India. The most important point for NRIs and OCIs is that the rules are different depending upon how the property is acquired or transferred. There […]
Can a bank auction agriculture land for recovery of loan: A complete guide for NRIs
A common belief is that agricultural land can never be auctioned for recovery of a loan. However, the legal position is different. Certain laws provide specific protection to agricultural land, while other laws may permit recovery in particular circumstances. The result depends on the type of loan, the lender, the security created over the property, […]
Nishandehi: The Essential Guide for NRIs to Land Demarcation in India
Nishandehi, a vital revenue process in India used to formally demarcate and mark the exact physical boundaries of a land parcel. It is a vital revenue procedure that helps identify exact land boundaries, resolve disputes, detect encroachments, and protect property rights. For Non-Resident Indians (NRIs), who are often unable to monitor their properties in India personally, […]
SARFAESI Act and Debt Recovery Guide for NRIs
When a borrower fails to repay a secured loan, banks require an effective legal mechanism to recover their dues without prolonged court proceedings. This is where the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 plays a crucial role. The SARFAESI Act is particularly significant for NRIs and their families […]
Guide for NRIs who have purchased agriculture Land by violating FEMA
Understanding the Legal Consequences, ED Scrutiny, Penalties & Practical Guidance for NRIs The Indian law prohibits NRIs from purchasing agriculture land, plantation land and farmhouse land in India. This restriction flows primarily from the Foreign Exchange Management Act, 1999 (FEMA) and the regulations framed thereunder. Despite the clear ban, many NRIs knowingly or unknowingly purchase […]