Section 26Central Act
Section 26: [ Certain provisions as to guarantee in respect of debt or other obligation
[ Certain provisions as to guarantee in respect of debt or other obligation
.-Except with the general or special permission of the Central Government or the Reserve Bank, no person resident in India shall give a guarantee in respect of any debt or other obligation or liability-(i)
of a person resident in India, and due or owing to a person resident outside India, or(ii)
of a person resident outside India.]Previous
Sec 25 — Restriction on holding of immovable property outside India .-(1) No person resident in India shall, except with the [general or special permission of the Reserve Bank], acquire or hold or transfer or dispose of by sale, mortgage, lease, gift, settlement or otherwise, any immovable property situate outside India:
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Sec 27 — Restrictions on persons resident in India associating themselves with or participating in concerns out side India .-[ Omitted by the Foreign Exchange Regulation (Amendment) Act , 1993 (29 of 1993), section 14 (w.e.f.8-1-1993).]
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