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Amendment of section 13

Section 140 - Act - AMENDMENTS TO THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999 - Finance Act - Section 140 - 140. In section 13 of the Foreign Exchange Act, after sub-section (1), the following sub-section shall be inserted, namely:- "(1A) If any p .....

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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 Authority, in a proceeding under s .....

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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 outside India, of the aggregate .....

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