Section 3: Prohibition on Remittance outside India of assets held in India

the Foreign Exchange Management (Remittance of Assets) Regulations, 2016.Central Regulations · 1999

Save as otherwise provided in the Act or rules or regulations made or issued thereunder, no person, whether resident in India or not, shall make remittance of any asset held in India by him or by any other person:

Provided that the Reserve Bank may, for sufficient reasons, permit any person to make remittance of any asset held in India by him or by any other person.

https://www.rbi.org.in/Scripts/BS_FemaNotifications.aspx?Id=167

Where this provision sits

Act	the Foreign Exchange Management (Remittance of Assets) Regulations, 2016.
Section	3
Marginal note	Prohibition on Remittance outside India of assets held in India
Jurisdiction	Central
Status	In force as published by the source

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