2001 (3) TMI 796 - HC - FEMA

Summary

The petitioner claimed ownership of foreign currencies seized from respondents 4 and 5, seeking return of the currency and quashing of the retention order. The seized currency was confiscated from individuals being proceeded against under the Foreign Exchange Regulation Act. The court found no merit in the petitions and dismissed them, stating that if the money is confiscated, the petitioner can pursue recovery from respondents 4 and 5.