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Section 13 - Acts - Foreign Exchange Management Act,1999 - Section 13 - CHAPTER IV CONTRAVENTION AND . 13. (1) If any person contravenes any provision of this Act, or contravenes any rule, regulation, notification, direction or order issued in exerci .....

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s quantifiable, or up to two lakh rupees where the amount is not quantifiable, and where such contravention is a continuing one, further penalty which may extend to five thousand rupees for every day after the first day during which the contravention .....

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37A, he shall be liable to a penalty up to three times the sum involved in such contravention and confiscation of the value equivalent, situated in India, the Foreign exchange, foreign security or immovable property. (1B) If the Adjudicating Authori .....

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rect prosecution by filing a Criminal Complaint against the guilty person by an officer not below the rank of Assistant Director. (1C) If any person is found to have acquired any foreign exchange, foreign security or immovable property, situated outs .....

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to five years and with fine. (1D) No court shall take cognizance of an offence under sub-section (1C) of section 13 except as on complaint in writing by an officer not below the rank of Assistant Director referred to in sub-section (1B).] (2) Any Ad .....

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