PANAJI
The State Registrar and Head of Notary Services has launched a blitzkrieg on the pendency of Foreign Exchange Management Act (FEMA) cases disposing off more than 100 cases within a month.
State Registrar Ashutosh Apte has told The Goan that the cases were pending on account of various reasons, but will now be processed quicker.
"Cases which were pending for processing under the FEMA Act have now been cleared. More than 100 have been cleared," Apte said.
All transactions involving immovable property by foreigners require a registration and clearance from various authorities in consultation with the Reserve Bank of India, Enforcement Directorate and other authorities.
Apte said that many cases didn't involve foreigners in the true sense, but those locals who have relinquished their Indian citizenship and now wish to dispose of immovable property.
ED cases took ages to process with the entire exercise taking months to complete.
The State Registrar and Head of Notary Services has launched a blitzkrieg on the pendency of Foreign Exchange Management Act (FEMA) cases disposing off more than 100 cases within a month.
State Registrar Ashutosh Apte has told The Goan that the cases were pending on account of various reasons, but will now be processed quicker.
"Cases which were pending for processing under the FEMA Act have now been cleared. More than 100 have been cleared," Apte said.
All transactions involving immovable property by foreigners require a registration and clearance from various authorities in consultation with the Reserve Bank of India, Enforcement Directorate and other authorities.
Apte said that many cases didn't involve foreigners in the true sense, but those locals who have relinquished their Indian citizenship and now wish to dispose of immovable property.
ED cases took ages to process with the entire exercise taking months to complete.
