Section 7(2) in Foreign Exchange Management (Debt Instruments) Regulations, 2019
(2)An authorised dealer may allow the remittance of sale proceeds of a debt instrument (net of applicable taxes) to the seller of such instrument resident outside India -Provided -(i)the instrument was held by the seller on repatriation basis; and(ii)Reserve Bank's approval has been obtained in other cases for sale of the instrument and remittance of the sale proceeds thereof;
