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Prohibited activities for investment by a person resident outside India

Regulation 15 - Regulation - Regulations - FEMA - Regulation 15 - 15. Unless otherwise specifically stated in the Act or the rules or regulations framed thereunder, investment by a person resident outside India is prohibited in: (1) Lottery Business .....

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e Government concerned, permit any chit fund to accept subscription from Non-resident Indians and Oveseas Citizens of India who shall be eligible to subscribe, through banking channel and on non- repatriation basis, to such chit funds, without limit .....

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