Indian nationals who are in the process of obtaining nationality of other country
Listen to this Article
Indian nationals who are in the process of obtaining nationality of other country or have already obtained citizenship of other
country)
Indian passport holders are required to surrender their passports to the nearest Indian Embassy/Consulate immediately after acquisition of foreign nationality as Indian Citizenship Act does not allow dual citizenship (there is sometimes misconception that Overseas Citizenship of India Card is dual citizenship). However, it has been observed that many individuals continue to retain their Indian passports and some even use to travel on Indian passports; there are yet others who get fresh Indian passports issued by suppression of information even several years after they acquired foreign citizenship. Since misuse of the Indian Passports, as described above, constitute offences under Section 12(1A) of the Passport Act 1967, the Government of India decided to impose penalty on a graded scale for such violations as per details given below:
S. No.
Scenario
Penalty
1.
Passport not surrendered up to three years and not used for travel after obtaining foreign passport.
No penalty
2.
Passport not surrendered up to three years and traveled once after obtaining foreign passport.
No penalty for retention of passport but penalty of
Rs.10,000/- for travel on Indian Passport
3.
Passport not surrendered up to three years and traveled more than once after obtaining foreign passport
No penalty for retention of passport but penalty of
Rs.10,000/- for each travel on Indian Passport (aggregate penalty on travel not to exceed Rs. 50,000/-)
Category : Corporate Law | Comments : 0 | Hits : 230
Introduction The practice of a company keep track of its financial transactions is as old as trade itself. The upkeep of precise books of accounts has been vital for the long-term prosperity and viability of businesses, going back to the days of barter systems and continuing into today’s complex financial systems. This essay will examine the importance of books of accounts and all of the benefits they provide to companies of all kinds. What are Books of Accounts? The s...
Introduction In India, registering a company is a complex procedure. A company’s incorporation process involves a number of officials, including chartered accountants and company secretaries. These individuals make a significant contribution to the company registration procedures available in India. However, one such entity is frequently overlooked during the incorporation process. It can be easy to overlook the Company Registrar who issued the registration certificate in these si...
Introduction Due diligence is an inquiry or audit conducted before a transaction, such as an acquisition, investment, business partnership, or bank loan, to guarantee compliance with financial, legal, and environmental reports in order to register a company in India. The outcomes of all these inquiries and audits will be collected into a Due Diligence report. For startups in India, conducting due diligence about the company is important during the investment stage. To guarantee complian...
Introduction India is a country that attracts a lot of private equity and foreign direct investment (FDI) due to its rapid expansion. India has the second-largest population in the world and a wealth of skilled IT workers, which makes it an appealing destination for investment from foreign businesses and individuals. This article will explain why establishing an Indian subsidiary is not as tough as you may believe. In this article, we will also include information on What is an Indian S...
The mandatory dematerialisation requirement is applicable on all securities of every private company, excluding small companies and government companies. The provisions are applicable with immediate effect, and a timeline of 18 months is provided from the closure of the financial year in which a private company is not a small company for the compliance with the mandatory dematerialisation requirements. For example, a private company (other than a company that is a small company as on 31st Marc...


Comments