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Non Resident Indian NRI

 > Non Resident Indian NRI

Foreign Investments in India & it’s Inherent Benefits

In the last past five years there has been a steep increase in the foreign investments in India. These investments are being done by both the Individuals as well as the Corporations and ranges from investments made across different sectors i.e. Real EstateInformation TechnologyInfrastructure DevelopmentDefence & Ship BuildingTechnology Based StartupsSpace TechnologyE-Commerce & M-Commerce The foreign investments in India are being done because of the inherent benefits attached to it i.e. Stable GovernmentSafety & Security of Investments by way of Legislations, Government Interventions and Judicial DictumsEducated, Skilled & Talented ManpowerHigh Gross Domestic Product (GDP) & Economic Growth ProspectsBetter Return on Investments (RoI)Push for Make...

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Growing Business Opportunities in India: Legal Perspective

From the year 1991 and up-till today, India has witnessed a plethora of changes both at the macro level as well as the micro level in its economy. The same has led to a lot of small and micro level industries to flourish which specifically includes Startups, SMEs and the MSMEs respectively. Furthermore, changes have been brought in the legislations which deals with the business and commercial space which includes changes in the legislations with respect to the Insolvency & Bankruptcy, formulation of new rules for the protection and safeguard of the Intellectual Properties (IP), changes in the laws relating...

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Recovery of Debts by Corporate: Recovery Suits

This is a very common form of debt recovery that companies always prefer before the Courts of our nation nowadays. The procedure is a bit lengthy considering that both the parties in the loan recovery dispute, i.e., the company and the borrower, are given an equal opportunity to plead their cases and the evidence is given more of consideration. This form of a suit is more preferred by the corporate houses while considering the aforementioned reasons. While filing such a suit, a primary preference is given to the place where the defaulting borrower resides. To state a point of caution,...

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Settlement Deed & Transfer of Property by a Non Resident Indian (NRI)

A Non Resident Indian (NRI) who have left India and/or are either staying abroad or have obtained the citizenship of a foreign country have their immovable properties and/or real estate in India. The said immovable properties or estates are in the form of either a joint ancestral property (which is being inherited) and self-acquired properties (which is/are self-purchased or self-owned) respectively. In case of the self-purchased/self-owned properties there exists no problem with respect to any share and/or partition as the same is the absolute property of the person or the Non Resident Indian (NRI) in the present case whereas when the...

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Execution of Documents for the Transfer of Property in India by a Non Resident Indians (NRI)

The laws relating to sale and transfer of property i.e. immovable property or the real estate are very clear, however, the Non Resident Indians (NRI) who are not residing in India and are staying abroad find it difficult to understand the Property Laws or the Real Estate Laws of India and execute necessary documents with respect to the sale and transfer of their property which includes a fractional transfer of share. Transfer of Property as Gift or by Relinquishment way of Love & Affection which generally happens between the legal heirs including the agnates and cognates:The transfer of property under this...

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Legal Steps for the Eviction of Tenant by a Non Resident Indians (NRI)

The laws relating to the Rent & Tenancy varies from State to State and every State in India has their own laws with respect to Rental & Tenancy of properties.Five Step guide for the Eviction of Rowdy & Unruly Tenants which can be undertaken by the Non Resident Indians (NRIs) in order to get their properties vacated in India are: Step-1: Sending Legal Notice to the Tenant for the Eviction of the Property- The landlord i.e. the Non Resident Indian (NRI) can send a legal notice to the Tenant whereby he can demand the vacation of the tenanted premises and...

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Justifiable Reasons for the Eviction of Tenant by a Non Resident Indians (NRI)

According to the Indian Rent laws, the rights of a landlord in India permit the landlords to evict their tenants provided there is a legitimate and justified reason for such an action. Many Indian states have declared the lawful basis of eviction for tenants in India. Furthermore, the laws relating to the Rent & Tenancy varies from State to State and every State in India has their own laws with respect to Rental & Tenancy of properties. It is often easy to find a tenant in India and this is one of the most convenient ways for the Non...

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Non Resident Indians (NRI) & Partition of their Ancestral Property in India

A Non Resident Indians (NRI) who have left India and/or are either staying abroad or have obtained the citizenship of a foreign country have their immovable properties and/or real estate in India and the same can be in the form of ancestral property which a person inherits. “Partition” is a process by which ownership of property among the family members is managed. When there is/are more than one owner of a property, it is known as “joint property”. Joint ownership in the property creates many problems to the owners of the property and for the Non Resident Indians (NRI) it...

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Legal challenges & problems faced by a Non Resident Indian (NRI) while purchasing property in India

The Non Resident Indian (NRI) who are based in a foreign country and intend to purchase a property in India which is either commercial or residential property/real estate face lots of challenges and legal issues. The ‘enclosed’ nature of the real estate business in India, along with the lack of information, is often stated as a reason why Non Resident Indian (NRI) are often scared of investing in real estate in India. There is a huge scarcity and/or lack of trusted and diligent real estate listing websites and platforms also pose a major challenge and thus, the Non Resident...

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Easiest Way to Transfer a Property in India by a Non-Resident Indian (NRI) without coming to India

A Non-Resident Indian (NRI) can easily transfer his/her share of property i.e. both movable and immovable property without visiting India. The same can be easily done by way of executing a “Special Power of Attorney (SPA)” in favour of a third person to whom the Non-Resident Indian (NRI) can entrust the job and responsibility to act as the authorised Agent and/or the Attorney holder and enable the transfer of the property in India. The Special Power of Attorney should essentially carry the following clauses which the Non-Resident Indian (NRI) should enumerate in favour of the Attorney holder i.e. To sign and execute...

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