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2009 (12) TMI 519 - HC - FEMAWhether, even for the period prior to 31-7-1995, such deposits in foreign currency needed to be made, necessarily, by the Non-Resident Indian account holder, in person? Held that:- As prior to 31-7-1995 there was no requirement that the deposits in NRE accounts could not be made by persons other than the NRE accounts holders themselves. For the subsequent period, that is after 31-7-1995, it is not in dispute that such deposits could only be made by the account holder himself, in person.no useful purpose would be served by relegating the petitioners to seek their alternative remedy of appeal under section 90 of the FEMA, particularly, because, according to us, that would not, now, be an equally efficacious remedy. In view of the foregoing discussion, these writ petitions are allowed. The show-cause notices and the consequent adjudication orders are set aside. See case of Citi Bank [2009 (7) TMI 1203 - DELHI HIGH COURT]
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