Common use of COMPLIANCE OF LAW RELATING TO REMITTANCES Clause in Contracts

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 The Allottees, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under or any statutory amendment(s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer of immovable properties in India etc. and provide the Vendor-Cum-Developer with such permission, approvals which would enable the Vendor-Cum-Developer to fulfil its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees understands and agrees that in the event of any failure on Allottees’ part to comply with the applicable guidelines issued by the Reserve Bank of India, the Allottee may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 The AllotteesAllottee, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under or any statutory amendment(s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer transfer/lease/ sub lease of immovable properties in India etc. and provide the Vendor-Cum-Developer Promoter with such permission, approvals which would enable the Vendor-Cum-Developer Promoter to fulfil fulfill its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees Allottee understands and agrees that in the event of any failure on Allottees’ Allottee’s part to comply with the applicable guidelines issued by the Reserve Bank of India, the Allottee may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 3.1. The AllotteesAllottee, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under or any statutory amendment(s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer of immovable properties in India etc. and provide the Vendor-Cum-Developer Promoter No.2 with such permission, approvals which would enable the Vendor-Cum-Developer Promoter No.2 to fulfil fulfill its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees Allottee understands and agrees that in the event of any failure on Allottees’ Allottee’s part to comply with the applicable guidelines issued by the Reserve Bank of India, the Allottee Allotte may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 The Allottees, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under or any statutory amendment(s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer of immovable properties in India etc. and provide the Vendor-Cum-Developer with such permission, approvals which would enable the Vendor-Cum-Developer to fulfil its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees understands and agrees that in the event of any failure on Allottees’ part to comply with the applicable guidelines issued by the Reserve Bank of India, the Allottee Allottees may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 1. The AllotteesAllottee, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under thereunder or any statutory amendment(s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/salesale/ transfer/transfer lease/ sub lease of immovable properties in India etc. and provide the Vendor-Cum-Developer Promoter with such permission, approvals which would enable the Vendor-Cum-Developer Promoter to fulfil fulfill its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees Allottee understands and agrees that in the event of any failure on Allottees’ Allottee’s part to comply with the applicable guidelines issued by the Reserve Bank of India, the Allottee may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 The AllotteesAllottee, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under or any statutory amendment(s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer transfer/lease/ sub lease of immovable properties in India etc. and provide the Vendor-Cum-Developer with such permission, approvals which would enable the Vendor-Cum-Developer to fulfil fulfill its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees Allottee understands and agrees that in the event of any failure on Allottees’ Allottee‟s part to comply with the applicable guidelines issued by the Reserve Bank of India, the Allottee may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 The AllotteesAllottee, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under thereunder or any statutory amendment(s) amendments/modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer of immovable properties in India etc. ., and provide the Vendor-Cum-Promoter/Developer with such permission, approvals which would enable the Vendor-Cum-Promoter/Developer to fulfil fulfill its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees Allottee understands and agrees that in the event of any failure on Allottees’ his/her part to comply with the applicable guidelines issued by the Reserve of Bank of India, the Allottee he/she may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.

COMPLIANCE OF LAW RELATING TO REMITTANCES. 3.1 The AllotteesAllottee, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act, 1934 and the Rules and Regulations made there under or any statutory amendment(s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisition/sale/transfer of immovable properties in India etc. and provide the Vendor-Cum-Developer with such permission, approvals which would enable the Vendor-Cum-Developer to fulfil its obligations under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance with the provisions of Foreign Exchange Management Act, 1999 or the statutory enactments or amendments thereof and the Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allottees Allottee understands and agrees that in the event of any failure on AllotteesAllottee’ part to comply with the applicable guidelines issued by the Reserve Bank of India, the Allottee may be liable for any action under the Foreign Exchange Management Act, 1999 or other laws as applicable, as amended from time to time.