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FEMA - Case Laws

Showing 81 to 100 of 573 Records

  • 2015 (8) TMI 1105 - DELHI HIGH COURT

    Contravention of Section 18 (2) of the Foreign Exchange Regulation Act, 1973 - non-realization of export proceeds - Held that - Although Section 68 FERA is in the nature of a deeming provision, the proviso thereto contemplates rebuttal of such presumption by a person who is able to show that the contravention took place without his or her knowledge. - memorandum is a cyclostyled form and the averments as regards all the directors is identical. Th....... + More


  • 2015 (8) TMI 236 - BOMBAY HIGH COURT

    Waiver of pre deposit - contravention of Section 3(b) and 6(2) of FEMA read with Regulation 5 of Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 read with para 8 of Schedule I to Regulation 5(1) of Foreign Exchange Management (Transfer of Issue of Security by a person resident outside India) Regulations, 2000 - Imposition of penalty - Amount remitted for franchisee in IPL, reached BCCI through concerns abr....... + More


  • 2015 (8) TMI 187 - SUPREME COURT

    Violation of provisions of Sections 47(1) & (2), 9(1)(c) and 8(1) - Permission from RBI for advertisement of Kingfisher brand name on racing cars during Formula-I World Championships - Failure to appear against the summon issued - Held that - Complaint is maintainable if there is default in not carrying out summons lawfully issued. The averments in the complaint show that the summons dated 21st December, 1999 were refused by the appellant and....... + More


  • 2015 (7) TMI 1080 - MADRAS HIGH COURT

    Locus standi of the Director of Enforcement to maintain the present appeal before this CourT - Unauthorised acquisition of foreign exchange - Tribunal after examining the records, found that the charge against the respondent herein was not proved by the prosecution and agreed with the findings of the Adjudicating Authority and accordingly dismissed the Revision - Held that - In the case in hand, admittedly no notification for appointing the Direc....... + More


  • 2015 (7) TMI 701 - DELHI HIGH COURT

    Imposition of penalty - Failure to furnish evidentiary proof of imports regarding foreign exchange in respect of nine remittances in contravention of Sections 8 (3) and 8 (4) of Foreign Exchange Regulation Act, 1973 - Held that - Documents were in respect of imports that took place pursuant to the remittances made in the years 1994 to 1999. The Customs authorities had in 1995 seized some of the files in respect of imports that had taken place in ....... + More


  • 2015 (5) TMI 1120 - DELHI HIGH COURT

    Issuance of a writ in the nature of Habeas Corpus in the matter of detention of the petitioner, who is detained passed by the Joint Secretary, Government of India (COFEPOSA), New Delhi - Held that - Having regard to the categorical assertions made by the learned Additional Solicitor General we are of the view that since a copy of the representation was only marked to the Advisory Board and no copy was supplied to either the Central Government or ....... + More


  • 2015 (5) TMI 1033 - JHARKHAND HIGH COURT

    Nature of offences - whether Offences, punishment of which extend to seven years, under the Foreign Exchange Regulation Act, 1973 FERA) being noncognizable in terms of Section 62 of the Act, are bailable or nonbailable? - Held that - Under FERA the power in terms of Section 45 of the FERA though has been given to police officer and other officer to make search and arrest when warrant but no provision is there that if arrest is affected by the off....... + More


  • 2015 (5) TMI 939 - DELHI HIGH COURT

    Maintainability of appeal - whether the appeals were dealt with by the Appellate Tribunal (which is the new avatar of the Appellate Board) under FERA or FEMA - Held that - Language of Section 49(5)(b) of FEMA is suggestive of the fact that it is only an appeal, which was pending before the Appellate Board, and which could not be disposed of before the commencement of the Act (i.e., FEMA), would stand transferred to the Appellate Tribunal. Therefo....... + More


  • 2015 (5) TMI 907 - DELHI HIGH COURT

    Violation of the provisions of Section 9 (1)(b) and 9(1)(d) of FERA - Receipt and distribution of money - Receipt of commission - Validity of assessment proceedings - inordinate delay in conclusion of the proceedings - Held that - Frivolous proceedings or proceedings taken out to merely delay the day of reckoning cannot be treated as proceedings taken in good faith, and that, mere fact on an application or petition, a stay is granted by a superio....... + More


  • 2015 (5) TMI 368 - MADRAS HIGH COURT

    Recovery of large amount of cash - contravention of the provision of Section 9(1)(b) and 9(1)(d) of FERA Act, 1973 - Offence under Section 56(1)(i) of FERA Act and Sections 49(3) and (4) of FEMA Act, 1999 - Reliability on co-accused s statement - Held that - confession of co-accused is admissible only if the case of other co-accused has been tried jointly as per Section 30 of Indian Evidence Act. In such circumstances, no reliance can be placed o....... + More


  • 2015 (4) TMI 1217 - APPELLATE TRIBUNAL FOR FORFEITED PROPERTY, NEW DELHI

    Applications for additional evidences - denial of natural justice - offence under SAFEMA - Held that - After careful perusal of all the submissions and documents we are satisfied that the Competent Authority decided the case without giving a reasonable opportunity to the appellants to produce all the evidence before him. We are also guided by the fact that upon verification and examination, the submissions about the legal acquisition of the forfe....... + More


  • 2015 (4) TMI 985 - BOMBAY HIGH COURT

    Detention of petitioner - Prevention of smuggling of goods - Held that - Detaining authority, after passing the detention order dated 27th February, 1989 was indifferent in securing the detenu by not taking proper action with great caution. It further appears that the police authorities of the Respondent No.4 were also not prompt in their action in executing the said detention order and the execution of the said detention order was unduly delayed....... + More


  • 2015 (4) TMI 639 - KERALA HIGH COURT

    Imposition of penalty - prohibition of any payment into a credit of a resident outside India except with general or special permission of the Reserve Bank of India - Held that - Admittedly, the payment was made in India towards customs duty payable by the non-resident Indian while importing the car. The adjudicatory authority with reference to notification No.16/2000, dated 03/05/2000 held that only certain payments are allowed to be made in favo....... + More


  • 2015 (4) TMI 232 - MADRAS HIGH COURT

    Contravention of Section 9 (1) (b) and (d) of the Foreign Exchange Regulation Act, 1973 - Penalty u/s 50 - Criminal prosecution for Economic Offences - Economic Offences Court acquitted the appellant holding that the prosecution has not proved the guilt of the appellant beyond all reasonable doubt - Imposition of pre deposit condition for hearing appeal against imposition of penalty - Held that - In view of the decision of the Supreme Court in St....... + More


  • 2015 (3) TMI 1165 - APPELLATE TRIBUNAL FOR FOREIGN EXCHANGE, NEW DELHI

    Application for amendment in the memo of appeal - Held that - The amendment application appears to have been made bonafidely and through it the appellant wants to bring on record the subsequent developments. Through the proposed amendment, no new cause has been set up by the appellant and is in continuation of the facts which were placed earlier. The subsequent developments are being placed before the Tribunal, so that they may be duly considered....... + More


  • 2015 (3) TMI 687 - DELHI HIGH COURT

    Misuse of telephone line - one ISDN line was made a permanent channel at each of the above premises and thereafter by using sophisticated equipment international calls were being distributed to Delhi & nearby areas illegally through PSTN (Public Switch Telephone Network) - One ISDN line has a bandwidth of 144 Kbps and this bandwidth was misused to make about 24 voice calls in one single ISDN call, which caused loss equivalent to the charges f....... + More


  • 2015 (2) TMI 1160 - KERALA HIGH COURT

    Penalty under Section 13(1) of Foreign Exchange Management Act, 1999 - direction to the fourth respondent seeked to release the balance amount directed to be released to the petitioner under Ext.P1 order - Held that - As a statutory appeal under Section 17 of the Act is pending before the fifth respondent and the said amount cannot be released during the pendency of the said appeal thus find some force in the objection raised by the revenue. - Th....... + More


  • 2015 (2) TMI 1044 - MADRAS HIGH COURT

    Contravention of Section 9 (1) (b) and (d) of the Foreign Exchange Regulation Act, 1973 - Whether in a case where an offence was punishable with a mandatory sentence of imprisonment, a company incorporated under the Companies Act, can be prosecuted, as the sentence of imprisonment cannot be imposed on the company? - Held that - In view of the decision of the Supreme Court in Standard Chartered Bank's case (2006 (2) TMI 272 - SUPREME COURT OF ....... + More


  • 2015 (2) TMI 460 - APPELLATE TRIBUNAL FOR FOREIGN EXCHANGE, NEW DELHI

    Imposition of penalty jointly and severally - failure to take reasonable steps for repatriation of export proceeds of US 23580.02 in respect of goods exported under 3 GRIs - Held that - While going through the order of penalty, I have noted that there is hardly any discussion on the role of the partners that led to non-realisation of the export proceeds of the 3 GRs and the ld. adjudicating officer has not arrived at any finding to show that the ....... + More


  • 2015 (2) TMI 415 - APPELLATE TRIBUNAL FOR FOREIGN EXCHANGE, NEW DELHI

    Contravention of the provisions of Section 9(1)(b), 9(1)(d) and Section 64(2) r/w Section 9(1)(d) of Foreign Exchange Regulation Act, 1973 - Imposition of personal penalty - violation under Section 51 of FERA, 1973 - whether the adjudicating authority has given the appellant an opportunity of cross-examining the mahazar witnesses and the person who recorded the voluntary statement of the appellant - Held that - Sh. Kiran S. Javali, Counsel for th....... + More


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