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 […]