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2013 (8) TMI 511 - HC - FEMAStatus of the Petitioner - Whether the petitioner, who returned to India after six (6) years from Saudi Arabia, ought to have been granted the same facilities qua his bank accounts maintained with State bank of India (SBI), which are available to a Non-Resident Indian (NRI) - Held that:- Under Regulation A.15 the NRE account of the petitioner had to be re-designated as 'Resident Account' - accounts of NRIs should be redesignated as resident accounts immediately upon the return of the account holder to India if authorized dealer is satisfied that he has returned to India for taking up employment or carrying on a business or vocation for for any other purpose with the intention of residing in India – Where account holder is only on a short visit to India, the account may continue to be treated as Non-resident (External) account even during his stay in this country – The petitioner quite clearly indicated that, since he had returned to India, his status be changed to that of a "Resident". In order to ascertain intention, what is required to be seen is the conduct of the person and the surrounding circumstances - it cannot be said that the respondents had not, correctly, concluded that the petitioner intended to stay in India for an uncertain period and thus, consequently, fell within the rigour of Section 2(p)(ii)(c) of FERA - Regulation A.15 of the Foreign Exchange Manual would be applicable to the petitioner.
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