TMI BlogRejection of permission to remit foreign exchange - FEMA ODI Regulations - The appellant has rejected...Rejection of permission to remit foreign exchange - FEMA ODI Regulations - The appellant has rejected the application of the respondent at the behest of ED - We have already, while adverting to the arguments of the learned Sr. Counsel for the appellant in ground (A) held that the reasons for rejection have been merely the apprehension expressed by the ED. The said apprehension of the ED is neither in spirit of the scheme of FEMA nor Regulation 9(3). The reliance of RBI on the apprehensions expre..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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