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FEMA - High Court - Case Laws

Showing 41 to 60 of 373 Records

  • 2017 (1) TMI 461

    Maintainability of the writ petitions before this Court - whether issue involved in these writ petitions relate to 2G Spectrum Case and therefore, this Court has no jurisdiction to entertain these writ petitions? - Held that - Since the investigation carried on by the respondents is being monitored by the Honourable Supreme Court, it is too early for this Court to take up these writ petitions for adjudication on merits. Consequently, the prelimin....... + More

  • 2016 (9) TMI 166

    Defective notice - Whether the Tribunal was right in holding that the notice is defective and unsustainable? - Whether the Tribunal was right in holding that the independent properties of a relative of a convict or detenu,cannot be forfeited? - Held that - As already held that the notice does not establish any link between the convict and the properties. It is also not the case of the petitioner that the properties were purchased out of illegal i....... + More

  • 2016 (6) TMI 1187

    Sentencing the petitioner solely on the basis of uncorroborated testimony of sole witness Mr.Chanderkant Khemka - Held that - Admittedly, the remedy of appeal is available against the impugned order under Section 17 of the Foreign Exchange Management Act, 1999. - Since, the petitioner has an alternative efficacious remedy, the present writ petition is dismissed. However, the petitioner is given liberty to raise all his pleas and contentions befor....... + More

  • 2016 (6) TMI 58

    Sealing of office premises challenged - case registered under Sections 420, 120-B, 467, 468, 471, 406/34 of the Indian Penal Code (for short IPC ) and Sections 3, 4 and 13 of the Foreign Exchange Management Act, 1999 - Held that - The office premises of the Company, which was sealed by the police in connection with the police case, is neither a stolen property nor the object of the crime nor has any link with the commission of any offence. It is ....... + More

  • 2016 (6) TMI 3

    Refusal to dispense with the amount of deposit of the penalty fully by Foreign Exchange Appellate Tribunal - Held that - The learned Tribunal omitted to notice that there was unexplained delay of nine years in issuing the show cause notice. The learned Tribunal also ignored the fact that the appellant was a mere agent of the principal, Sri S.Jegathesan. - Considering the facts and circumstances of the case, we are of the opinion that the Tribunal....... + More

  • 2016 (4) TMI 782

    Aggrieved person - Whether the 4th respondent, Assistant Director, Directorate of Enforcement can be said to be an aggrieved person from the order dated 3.7.2013 of the Adjudicating Authority, the Assistant Director, Directorate of Enforcement so as to file an appeal under Section 17(2) of 1999 FEMA Act - Held that - Section 19 of the 1999 Act provides appeal to the Appellate Tribunal against an order; (i) passed by the Adjudicating Authority oth....... + More

  • 2016 (4) TMI 759

    Default to file a private paper book - Held that - The delay has been continuing over last eight years. Even after this Court had permitted the applicant/appellant to file a private paper book, still the default has continued. It is not known why the applicant/appellant has not been able to trace the record. The explanation therefore, does not inspire much confidence. - The Director of Enforcement cannot go on giving instructions to seek time or ....... + More

  • 2016 (4) TMI 715

    Proceedings under Section 51 of the Foreign Exchange Regulation Act, 1973 - Currency seized from the premises of assessee should be confiscated to the Central Government in terms of Section 63 of the Foreign Exchange Regulation Act, 1973 - maintainability of the appeal filed by the respondents before the Tribunal - Held that - A careful comparison of the provisions of the Foreign Exchange Regulation Act, 1973 and the Foreign Exchange Management A....... + More

  • 2016 (4) TMI 677

    Order of detention - Held that - There are previous decisions of Division Bench of this High Court that detaining authority is under obligation to comply with the requirements by formulating grounds for detention and on factual aspect also, there is no reason to detain such person and therefore, as recorded herein above, the Division Bench has gone to the extent of saying that a grosser case than this is yet to be seen. - Thus the impugned order ....... + More

  • 2016 (4) TMI 615

    Issue of grant or revocation of grant of licence - Held that - The licence to import was vitally connected with the shareholding of Kamal Kr. Datta and the percentage shareholding of his brother Sajal Datta. If the number of shares issued to Kamal increased on the basis of importation of those items, the percentage shareholding of Sajal was likely to fall. Therefore, both the company and its principal shareholders Kamal and Sajal had an interest ....... + More

  • 2016 (4) TMI 366

    Violation of provisions of FERA by the SBI officials - Validity of summons - making full advance payment to the tune of US 38 million without either obtaining any prior permission of the Reserve Bank of India ( RBI ) or any guarantee from an International Bank of repute situated outside India to safeguard their money - Held that - petitioners are not covered under Sub-section (ii) of Section 49 of FERA for abetting or not complying with all or an....... + More

  • 2016 (2) TMI 476

    Challenge to the RBI (FEMA) circular - validity and legality - Policy in relation to import of Gold - On or about 14th August, 2013, RBI issued another Circular no. 25, referring to the said Circular no. 15 dated 22nd July, 2013, for clarification / modification in supersession of the earlier instructions, and made it incumbent on all nominated agencies to make exclusively available at least one fifth i.e. 20% of every lot of gold imported to the....... + More

  • 2015 (12) TMI 1294

    Violation of Section 23 (1) read with Section 4 (1) FCRA, 1976 - Petitioner received funds without obtaining prior permission of the Central Government - Held that - Foreign entities through whom such funds were sent were holding the same on behalf of his father. To this effect, Mr. Vipin Khanna made a statement dated 11.07.2006, whereby stated that these funds were sent on his instructions to the petitioner. Moreover, vide statement dated 13.04........ + More

  • 2015 (12) TMI 1245

    Power of court to review and supervise the investigations against the political party - investigations under Foreign Contribution (Regulation) Act, 2010 (FCRA) - Held that - Undoubtedly the Courts, in exercise of their power of judicial review, are entitled to direct investigation into an offence alleged to have taken place, as reiterated by the Constitution Bench in State of West Bengal Vs. Committee for Protection of Democratic Rights West Beng....... + More

  • 2015 (11) TMI 131

    Bail application - Arrest made without the mentioning of name in FIR - arrest of the applicant without a warrant in a non-cognizable offence - applicant is alleged to have received ₹ 7 crores from one Natural Trading Company and ₹ 6.31 crores from one M/s Gangeshwar Mercantile Pvt. Ltd. without satisfactory explanation - revention of Money Laundering Act, 2002 - Held that - Applicant, at this stage, has failed to satisfactorily establ....... + More

  • 2015 (11) TMI 77

    Confiscation of amount seized from appellant premises - amount was obtained by any unfair means - offence under Section 9(1)(b) of the Act - Held that - It is apparent that the alleged confessional statement dated 30.04.1991, said to have been recorded from the appellant by the Officers of the Directorate of Enforcement has not been corroborated by any independent witness. Further, neither Mohamed Hilal of Kuwait, nor Jahubar Nissar, from whose r....... + More

  • 2015 (11) TMI 28

    Tribunal while directing the petitioner(s) to deposit 15% of the amount of penalty imposed and to furnish reliable security for the balance amount of 85% as a pre-deposit for hearing of the appeal has noticed that the petitioner (s) has an arguable case and it would cause hardship in case the waiver is not allowed, but no case of complete waiver was made out. - petitioner(s) has been required to pre-deposit 15% of the penalty amount as a conditio....... + More

  • 2015 (10) TMI 264

    Otherwise acquired foreign currencies - Proceedings under FERA, 1973 - holding the currency as owner thereof and handing a part of for safe custody with the appellant s mother and wife - ownership of foreign currencies - validity of statement before income tax authorities - Held that - FERA and the Income Tax Act are two separate and independent Acts operating in two different fields. Therefore, we do not think that the appellants can take advant....... + More

  • 2015 (9) TMI 1494

    Detention order challenged - Held that - The language of Section 5A of COFEPOSA makes it abundantly clear that if the order of detention is made on two or more grounds, the said order of detention shall be deemed to have been separately on each ground and accordingly the detention order shall not be deemed to be invalid merely because one or some of the grounds is or are invalid. In the present case, the bail applications relating to co-accused M....... + More

  • 2015 (9) TMI 1192

    Petitioner challenges at pre-detention stage his detention - Conservation of Foreign Exchange and Prevention of Smuggling Act, 1974 (COFEPOSA) - smuggling of gold. - absence of live link due to time gap between the detention order dated 31st March, 2015 and the occurrence on 7th July, 2014 - Held that - While deciding the issue whether the proposed deteun has absconded, the courts would have to examine the factual matrix. - in the facts of the pr....... + More

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