Foreign Exchange Management Act, 1999 · Chapter II: Regulation and Management of Foreign Exchange
Section 4: Holding of foreign exchange, etc
Save as otherwise provided in this Act, no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 14 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 4
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Jaseela Shaji v. The Union of India & Ors.
Issue arose as to whether the non-supply of the statement of the person stating about the detenu’s dealing in foreign exchange to the detenu, has affected the right of the detenu to make an effective representation…
- Union of India v. Hassan Ali Khan and Anr.