Chapter 13, 14 & 15 Leave a Comment / By / GCA, IOS & FEMA Mr. V, brother of Mr. R, is a resident of Singapore and he owns an immovable property in Chennai which he inherited from his father, who was a resident of India, Can Mr. V continue to hold the property? No, he cannot hold transfer or invest In India, since he is resident outside India Yes, he can continue to hold in India, since he is person of India Origin and the property is located in India Yes, he can continue to hold the property, since this was inherited from a person who was resident in India. Yes, he can continue to hold the property, since his brother (Mr. R) uses the property whenever he travels to Chenna None When there is a conflict between two or more statues or two or more parts of a statute then which rule is applicable: Welfare construction Strict construction Harmonious construction Mischief Rule None Mr. A died at the age of 72 leaving behind some movable and immovable properties to be distributed between his two sons C& D, as per his registered will. His Will clearly mentioned that all the immovable property should go to C and all the movable property should go to D. Both the brothers divided the property as per will except below mentioned properties, because they could not establish which property should go to whom. Kindly help them by ticking the property/ies which should go to D (as per the provisions of the general Clause Act, 1897) Standing crop in the fields Cut crop, ready to sell Tube well in the agriculture land Sandal Wood Tree None The word ‘or’ is normally disjunctive and ‘and’ is normally conjunctive. However, at times they are read as vice versa to give effect the manifest intention of the legislature as disclosed from the context. This is as per Noscitur A Sociis Rule of Exceptional Construction Rule of Literal Construction Ejusdem Generis None As per Section 9 of General Clauses Act, 1897, use of word ‘from’ implies that first day in a series of days is _______ and use of word ‘to’ implies that last day in a series of days is _________ excluded, included included, excluded excluded, excluded included, included None When word ‘include’ is used to define any term, the definition is called Prima facie restrictive and exhaustive Prima facie extensive Both exhaustive and extensive Neither exhaustive nor extensive None M/s Kedhar Sports Academy, a private coaching club provides coaching for cricket, football and other similar sports. It coaches sports aspirants all over India. It also conducts various sports events and campaigns, across the country. In 2019, to mark the 25th year of operation, a cricket tournament was organized in Lancashire, England. The prize money for the winning team is USD 40,000. For the runners up, it is USD 11,000. Now, M/s Kedhar Sports Academy wants to know what steps it should take for the remittance of the prize money of USD 51,000 to England from India. Decide, which of the following is correct in view of relevant provisions of FEMA, 1999: Prior permission is required to be taken from the Ministry of Human Resource Development (Department of Youth Affairs and Sports). Prior permission is required to be taken from the Reserve Bank of India. No permission is required – M/s Kedhar Sports Academy can proceed to make the remittance Prior permission is required to be taken from the Ministry of Finance (Department of Economic Affairs). None Time's up
