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2010 (12) TMI 657 - HC - FEMAViolation FERA - Proceedings under FEMA - taking notice versus issuing notice - period of limitation of 2 years - whether the adjudicating officer has taken notice of the alleged contravention of FERA within the period of two years from the commencement of FEMA so as to adjudicate upon such contravention of FERA under the provisions of FEMA - Held that:- the adjudicating officer on taking notice of the alleged contravention of FERA has signed signing the show cause notice on 31-5-2002. Since the adjudicating officer has taken notice of the alleged offence on 31-5-2002 which is within a period of two years from the commencement of FEMA as contemplated under Section 49(3) of FEMA, the adjudicating officer would have jurisdiction to adjudicate the notice dated 31-5-2002. The fact that the said notice was posted on 5-6-2002 and served upon on 6-6-2002 would not invalidate the proceedings initiated by show cause notice dated 31-5-2002, because for the purpose of Section 49(3) of FEMA what is relevant is ‘taking notice’ and not issuance or service of notice. - Petition dismissed.
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