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FEMA - Case Laws

Showing 21 to 40 of 609 Records

  • 2018 (3) TMI 1250

    Maintainability of Appeal under Section 19 of FEMA Act - Held that - Provisos to Section 19(1) of the Act, an appeal can be maintained/heard only when the issue of pre-deposit of penalty has been examined/addressed. - In the instant case, the conditions for filing Appeal has not been satisfied as no penalty has been imposed in the absence of an order . As the provisions laid down in Section 19(1) of the Act have not been fulfilled, the appeal fil....... + More


  • 2018 (3) TMI 1136

    Calling of witness Mr. Chokshi whose cross examination was already conducted on 20/09/2017 was rejected - Held that - It is the interest of justice, equity and fairplay, let Mt. Chokshi be further cross-examined on this aspect. The argument of the respondent has no forced that the appellant has covered entire case on 20.09.2017 if when the question of 41-45 were put to Mr. Chokshi. - Thus, the findings given in the impugned orders are contrary to....... + More


  • 2018 (3) TMI 1067

    Working of Special Investigation Team ( SIT ) questioned - As submitted SIT especially the Directorate of Enforcement ( ED ) is acting in contravention and beyond the orders of this Court which was supposed to investigate the dispute of M/s International Customer Related Management Services Pvt. Ltd. (for short, ICRMS ) and rather it has plunged into third party disputes - Held that - In the light of unison shown by the learned counsel representi....... + More


  • 2018 (3) TMI 1066

    Application of FEMA for a contravention in the FERA issue - Held that - The present appeal instead of being preferred before the Special Director (Appeals) under Section 17 of FEMA has being filed this Tribunal for Foreign Exchange under section 19 FEMA is not maintainable and thus the same is liable to be dismissed........ + More


  • 2018 (3) TMI 119

    Violation of provisions of FEMA - cross-examination of the witnesses other than the IO - Held that - The application made to the Special Director in the course of proceedings in this case (dated 21.12.2017), is part of the record. No doubt, the appellant sought the Investigating Officer s cross-examination inasmuch as, according to him, examination as to the conclusion in his report was necessary. - The appellant, at the same time requested for c....... + More


  • 2018 (2) TMI 1682

    Order of seizure in terms of provisions of Section 37A(1) of FEMA - foreign exchange worth USD 352258.25 suspected to be held outside India in contravention of Section 4 of FEMA - Held that - The petitioner filed an additional affidavit dated 08.01.2018 placing certain factual details regarding the amount, which was lying in the foreign Bank account in 2002. Along with the additional affidavit, the petitioner has enclosed copy of the letters of H....... + More


  • 2018 (2) TMI 762

    Right to cross-examine - Cross examine the witnesses whose statements were recorded under Section 37 of FEMA and whose statements have been relied upon in the complaint - complaint alleges that the provisions of section 3(b) of the FEMA have been contravened by the petitioner by making a payment to Cricket South Africa (CSA) a person residing outside India, without permission of the Reserve Bank of India (RBI) and that is inter alia apparent from....... + More


  • 2018 (2) TMI 579

    Abetting one Sh. P.G. Rawal in transferring foreign exchange in contravention of Section 8(3) read with 8(4) and Section 48 read with Section 64(2) - Held that - While the order in original has passed a very detailed order, however the adjudicating authority has not given any evidence or facts to state as to how the appellant has abetted with Sh. P.G. Rawal, in the said contravention. It appears that he has based his judgment on an inference from....... + More


  • 2018 (2) TMI 333

    Offence under FEMA - reject the petitioner s application for cross-examination - Held that - A plain reading of the application filed by the petitioner seeking cross-examination of certain individuals named above also indicates that the petitioner had reiterated its contention that the material or evidence on record does not substantiate the allegation made against him. At the outset, the petitioner had denied all the allegations made against him....... + More


  • 2018 (1) TMI 1222

    Contravention of section 3 FEMA - statement made under oath reliance - Held that - In harwala transactions, the main aspect is secrecy and stealth. Most of the facts relating to such transactions remain in the knowledge of the persons involved in such transactions. It is difficult for Authorities to unravel every link of such transitions. The burden is on the person to explain; otherwise adverse inference can be drawn based on surrounding facts a....... + More


  • 2018 (1) TMI 568

    Brother of the present respondent was detained under the provisions COFEPOSA Act - Held that - No substance in any such ground for the simple reason that the law is well settled as interpreted and decided by the Honourable Supreme Court. The petitioner has also tried to compare several other judgments and Special Act like TADA and NDPS Act to plead and to induce by this Court to believe that it would be difficult to get direct evidence to control....... + More


  • 2018 (1) TMI 221

    Application for dispensation and directing appellant to deposit 10% of the penalty amount and to furnish a credible security for the balance 50% - Held that - On the one hand the appellant contends its financial credibility and on the other hand undue economic hardship. The Tribunal has waived off substantial pre-deposit and has directed only 10% of the penalty amount to be deposited with a surety for the balance 50% which cannot be said to be un....... + More


  • 2017 (12) TMI 396

    Revisional jurisdiction under the FERA - Notice of contravention of Section 51 of FERA was taken by the Adjudicating officer within two years from the date of the repeal of FERA - Held that - In the facts of the present case, the appellant is not without a remedy in the sense that a recourse can be taken to the remedies under the Constitution of India. The principle which governs Mimansa interpretation is that if a word or sentence purporting to ....... + More


  • 2017 (11) TMI 839

    Revision petition u/s 19(6) of FEMA against the order of penalty - contentions of the respondent is that revision petition filed by the revisionist is not maintainable as there is no specific provision in the Act - Held that - As gone through provisions of section 16 which provides for appointment of Central Government Officers as at Adjudicating Authority for holding an inquiry for the purpose of imposing any penalty against the respondent. As i....... + More


  • 2017 (11) TMI 618

    Non-realisation of export sale proceeds - Proceedings as contemplated under Section 18(2) & 18(3) read with Section 68(1) & 68(2) of FERA - Held that - It is evident that the Appellant joined as Director solely in the capacity of advisory role and was specifically excluded from the day to day operations of the company as evidenced from the correspondence. There cannot be any adverse inference against the Appellant‟s role as to its i....... + More


  • 2017 (10) TMI 1129

    Investigation and enquiry into violation of FEMA and the Rules and Regulations - Held that - Any investigation undertaken with an intention to unearth violations of provisions of FEMA cannot be characterized as motivated or malicious merely because before initiation of such proceeding, an award had been passed against the Central Government regarding alleged breach of contract entered into between the Government and the Company. Alleged breach of....... + More


  • 2017 (10) TMI 909

    Registration under Section 12 of the Foreign Contribution (Regulation) Act, 2010 ( FCRA ) rejected - Grant of certificate of registration under FCRA - the respondent is not satisfied that the foreign contribution is not likely to be used for personal gains - petitioner is a society registered under the Societies Registration Act, 1860 and has been registered under Section 12A of the Income Tax Act - Held that - The question whether a society esta....... + More


  • 2017 (10) TMI 908

    Review application - Held that - It is pertinent to mention that the order dated 16.07.2016 has not been challenged by the appellant/applicants in the higher court. It has become final. The amount fixed in the said order has not been deposited and it is apparent that the appellants have no intention to deposit the same. - We are of the view that the review application filed by the appellant/review applicant is not maintainable as the applicant ha....... + More


  • 2017 (10) TMI 461

    Detention at the airport at the instance of the Enforcement Directorate - Look Out Circular (LOC) was issued by the Enforcement Directorate - violation of FEMA - Proceedings under PMLA - Held that - In the present case, the LOC does not indicate any credible reason for issuing the same. Plainly, recourse to LOC cannot be taken as a matter of course; restricting the right of a citizen to travel is a serious imposition on his/her fundamental rights....... + More


  • 2017 (10) TMI 460

    Condonation of Delay - reason i.e. the premises of the appellant firm lying locked and shifting of residence by the appellants as well as the chamber of the counsel of the appellant has been stated - Held that - As stated earlier, by an order dated 11th May, 2009 this Tribunal had directed the appellants to deposit 20% of their amount of penalty along with submissions of unconditional bank guarantee of remaining 30% within a period of 45 days fro....... + More


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