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2009 (3) TMI 568 - HIGH COURT OF PUNJAB AND HARYANAGuilty of charge under section 6(3)(i) of the Foreign Exchange Management Act, 1999 read with Regulation 4 of the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulation 2000 on Petitioner - Whether an act which could not be subjected to a penalty on account of contravention of any provisions of the Act, Rules, Regulations or notification etc. could attract penalty on the basis of subsequent enactment by bringing such an act within the sweep of penalty? Held that:- The provisions of the FEMA Regulations were made applicable from 1-6-2000 and thus would not apply to the transaction dated 5-11-1999. Under section 31 of the FERA there is no limitation on the purchase of even agricultural land by the Indian Citizen which was the provision applicable at that time. Therefore, the action of the respondents concerning imposition of penalty under section 13(1) of the FEMA, adjudication and framing of charge thereunder are patently against article 20(1) of the Constitution. Once order dated 13-3-2003 (P.1) has attained finality and the proceedings initiated against the petitioner on 18-2-2003 have culminated in a finding that the petitioner did not contravene any provisions of the FEMA then in the absence of any order of the Appellate Authority under section 17 of the FEMA for setting aside the order dated 13-3-2003, the initiation of fresh proceedings on 28-7-2006 were wholly unwarranted. Appeal allowed.
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