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1996 (1) TMI 351 - SC - Companies Law
Whether existence of "mens rea" is a necessary ingredient for establishing contravention of section 10 punishable under section 23 of the FERA, 1947?
Whether section 10(1) of the FERA, 1947, is not an independent provision making its contravention, by itself punishable under section 23(1)(a) of the FERA, 1947, or whether its contravention can arise only if there is breach of some directions issued by the ' Reserve Bank of India under section 10(2) of the FERA, 1947?
Held that:- Appeal allowed. Both the questions above the judgment of the High Court, impugned in this appeal, cannot be sustained and we, accordingly, set it aside.