In this case, the Supreme Court held that for the transfer of immovable property via a gift deed executed by a foreign citizen necessarily requires the permission of RBI. A transfer without obtaining the prior permission of the RBI is deemed to be void. This decision is only applicable to foreign citizens and not to NRIs and OCIs.
Asha John Divianathan v. Vikram Malhotra & Others.
Learn more about Law
Need Legal Consultation?
Contact us Today!