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...) against the petitioners by the Respondent Enforcement Directorate (ED) by issuance of a show cause notice dated 10th August 2004 to them for contravention of Sections 7 and 8 FEMA read with Regulations 9 and 13(i...been taken by the Special Director, ED after 31 May 2002.4. The alternative submission is that in any event, the ED could not have invoked either Section 7 or Section 8 ...out that since no export was made after the coming into force of the FEMA, Section 7 and Regulations 9 and 13(ii) of the FEM EGS Regulations do not apply. Section 8 FEMA is a...
...Corporation and penalty of Rs. 20 Lakhs on Sh. Ponsekar under Section 13 of FEMA 1999 for contravention of Sections 7 & 8 of FEMA 1999 read with Regulations 9 & 13 of Foreign Exchange...Bank of India so as to ensure realisation of the export proceeds, it is Section 8 which is critical to the dispute before us. Section 8 of FEMA 1999 is reproduced below...- payment at Singapore and relevant to the said shipments.
8. The wordings of Section 8 FEMA 1999 make it clear that there is recognition of an eventuality to provide for...
...Corporation and penalty of Rs. 20 Lakhs on Sh. Ponsekar under Section 13 of FEMA 1999 for contravention of Sections 7 & 8 of FEMA 1999 read with Regulations 9 & 13 of Foreign Exchange...Bank of India so as to ensure realisation of the export proceeds, it is Section 8 which is critical to the dispute before us. Section 8 of FEMA 1999 is reproduced below...- payment at Singapore and relevant to the said shipments.
8. The wordings of Section 8 FEMA 1999 make it clear that there is recognition of an eventuality to provide for...
....7. The Adjudicating Authority has found appellant company liable for contravention of Section 8 of FEMA, 1999 r/w relevant notifications holding the company guilty for...drilling and related businesses. It has been contended that there is no contravention of Section 8 of FEMA. The fact is that the amount of Eruo 111250 had no connection with the appellant company’s business...of the facts emerging from the documents on record and there was no obligation of the appellant in terms of Section 8 of FEMA in respect of the said transaction. It is further contended that...
...the Company on the ground that it had contravened the provisions of Sections 8(3), 8(4) of FERA read with sub-sections (3) and (4) of Section 49 of FEMA. Copies of the orders dated 27-1-2004 were then...Company had contravened Section 8(3), Section 8(4) of FERA read with Para 7-A.20 (Chapter 7) of ECM and was required to show cause as to why adjudication proceedings be not initiated against the Company under ...Management Act, 1999 (in short “FEMA”) was right in rejecting a belated appeal filed under Section 19 of FEMA, applying the first proviso to sub-section (2) of Section 52 of the Foreign Exchange...
...the High Court of Bombay.”8. The High Court also relied on Explanation (a) to Section 35 of FEMA, which states that the “High Court”, to which an appeal from an....”3. The facts of the case in brief are as follows: the appellant, along with another person, were issued a notice dated 12-1-2005 under Section 3(c) of the Foreign Exchange Management Act, 1999 (...the amount of Rs 1 lakh, confiscated during search from his residence, should not be credited to the account of the Central Government under Section 13(2) of FEMA, 1999.4. As...
...the Foreign Exchange Management Act, 1999 (for short “the FEMA”). Section 8 of the FEMA provides that save as otherwise provided in that Act, where any amount of foreign exchange is due or has accrued...undergone sublet yet definite changes. The powers under erstwhile Section 18(2) of the FERA are no longer available under the FEMA whose section 8 of the FEMA shall apply to this kind of offence. Even the...Kamlakar Sharma, learned counsel for the respondents submitted that the argument that in view of section 8 of the FEMA now the authority was denuded of its powers to issue the impugned notice with...
...prayed in the complaint that the investigation carried out has clearly made out a case of violation of Section 8 of FEMA read with Regulation 3 of the Foreign Exchange Management (Realisation...decide as to whether it was relevant or/and sufficient, and whether it could justify the appellants' case as contemplated under Section 8 of FEMA.21. Instead, the...through its Assistant Director filed a complaint, being Complaint No. T-3/536-B/2002, under Section 16(3) of the Foreign Exchange Management Act, 1999 (for short “FEMA”) against the appellant Company...
...agreement dated 14 April, 2008 and that the award is against the provisions of law in India being Section 8 of the Foreign Exchange Management Act, 1999 ....23. (II) violation of section 8 of the FEMA:Vitol was to pay the washout charges. BIL was to receive it. The amounts would accrue due to BIL on specified due dates in the...referred to the notification of RBI dated 3 May, 2000 issued under Section 8 of the FEMA, akin to Section 16 of the FERA, which sets out in Section 3 thereof the duty of the...
...provisions of Section 8(1) and 14 of FEMA.The issue that was contested right from the adjudication stage is the identity of Mr. Ram Nath although in the Appellate...-deposit of penalty as required under Section 19 of FEMA, 1999;d. that there are judgments which deal with the issue of final disposal of the case without insisting on the pre-deposit for....g. Hence they do not deserve to get any stay and the pre deposit has to be made as per Section 19 of FEMA before the case could be taken up for final hearing, and that by now they...
...) for the contravention of Section 7 and 8 of the Foreign Exchange Management Act, 1999 ("FEMA") read with Regulations 8, 9 and 13 of the Foreign Exchange Management (Export of Goods & Services...."
10. In view of the aforementioned discussions and analysis, we find that the two Appellants, have contravened Section 7 and 8 of the FEMA, 1999 read with...Regulations 8, 9 and 13 of the FEMA Regulations, 2000
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read with Section 42(1) of FEMA, 1999 with respect to the...
...FEMA, hence this Court cannot condone the delay in filing the appeal beyond the period prescribed under section 35 of fema.8. It is, however contended that the Delhi High Court while...appellant, if so advised, to file an appeal before an appropriate High Court within the meaning of the Explanation to section 35 of fema and if such an appeal is filed within a period of thirty days from...appeals.5. Section 35 of the FEMA Act which provides for a remedy of appeal against the order of the Appellate Tribunal reads thus:—“35. Appeal to High Court.-Any person...
...) for the contravention of Section 7 and 8 of the Foreign Exchange Management Act, 1999 ("FEMA") read with Regulations 8, 9 and 13 of the Foreign Exchange Management (Export of Goods & Services...."
10. In view of the aforementioned discussions and analysis, we find that the two Appellants, have contravened Section 7 and 8 of the FEMA, 1999 read with...Regulations 8, 9 and 13 of the FEMA Regulations, 2000
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read with Section 42(1) of FEMA, 1999 with respect to the...
...) against the order No. ADE/SRO/CEZO-II/07/2020 dated 18.02.2021 passed by the Adjudicating Authority, whereby penalties were imposed on the respondents, for contravention of Section 7 & 8 of FEMA, read...for enhancement of penalty.
3. During the arguments, Ld. Counsel for the appellant ED summitted that admittedly respondents have contravened Section 7 & 8 of FEMA...
Dictated by:- Rajesh Malhotra Present appeal for enhancement of penalty is filled by the appellant under Section 19 (1) of Foreign Exchange Management Act, 1999 (FEMA...
...Sections 7 and 8 of FEMA, 1999 r/w Regulations 3, 8, 9 of Regulations, 2000 and has imposed penalty against all the three appellants under Section 13 of FEMA, 1999. While imposin...finding of the Adjudicating Officer is not sustainable in this regard.13. As regards the alleged contravention of Section 8 of FEMA, we do not find any material on...the amount of two disputed GRI forms were undertaken by the appellant we are of the view that the finding of the Adjudicating Officer holding the appellant guilty of contravention of Section 8 of FEMA, 1999...
...Clause (a) of sub-section (5) of Section 49 of FEMA does not control sub-section (3) of Section 49 of FEMA.8. There ...Act by the Foreign Exchange Management Act, 1999 (hereinafter referred to as ‘FEMA’). He contended that Section 14 of FEMA provides for...would be exposed only to civil imprisonment under. Section 14 of FEMA. It is also pointed out that facility for compounding any contravention under Section 13 of FEMA is possible under Section 15 of...
...authorities constituted under FEMA within the period of limitation prescribed for filing appeals before the appellate authorities constituted under FEMA.”8. Undoubtedly, Section 54 FERA...appellant and have examined the record. Apparently, the present appeal has been filed after an inordinate delay of 775 days. section 35 of fema permits the appeal to be filed within 60 days from the date of...provisions of section 35 of the FEMA are attracted and the period of limitation for filing the appeal cannot be extended beyond 120 days.5. In...
...Section 56 of FERA for contravention of Section 8 of the FERA. Under the new law FEMA, the violation of section 8 of fera has been covered under sections 3, 4 and 9 of ...only penalties have been provided.11. Section 13(1) of the FEMA reads as under:“If any person contravenes any provision of this Act, or contravenes any rule, regulation...petitioner to pay fine of Rs. 50,000/- for offence under Section 13 of the FEMA, in default of payment of fine, the petitioner shall undergo simple imprisonment for three months.14. The...
...only) by the impugned order on the appellant for alleged contravention of section 8 read with section 42 of FEMA, 1999. FPA-FE-119/MUM/2011 Page 2 of 15...of the above information/investigation a show Cause notice dt. 5.10.2005 was issued by the Respondent under the provisions of section 8 of the FEMA, 1999 r/w Regulations 9 and 13 of...statutory ingredients of both sections 8 and 42 of FEMA, 1999 for the simple reason that person who has allegedly contravened the provisions of section 8 of FEMA , 1999 is none other than M/s. Ennore...
...contravention of Section 8 of the FERA. Under the new law FEMA, the violation of section 8 of fera has been covered under sections 3, 4 and 9 of fema for which only penalties have been...under the new law FEMA, there is provision of only imposing penalties in case of violation of any rule or order or notification. The petitioner was charged under Section 56 of FERA for...provided.11. Section 13(1) of the FEMA reads as under:“If any person contravenes any provision of this Act, or contravenes any rule, regulation, notification, direction or...