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2022 (1) TMI 1368 - HC - FEMAFCRA registration - Delay opening of an FCRA bank account with the State Bank of India - petitioner could not upload the FC-4 Form on the respondent s portal within the scheduled time period of June 30, 2021 as there was delay in opening the designated account in the main Branch of the State Bank of India, 11, Sansad Marg, New Delhi 110001 - HELD THAT - On a specific query to the learned counsel for the petitioner what steps, were taken by the petitioner to open the account, when the concerned amendment was notified on October 7, 2020, the learned counsel for the petitioner seeks some time to take instructions and file relevant documents along with an affidavit. Noting the said submission, re-notify on March 11, 2022.
Issues:
1. Exemption application in CM. No. 2725/2022 2. Petition for writ in W.P.(C) 948/2022 & CM. No. 2724/2022 Exemption Application (CM. No. 2725/2022): The court allowed the exemption subject to all just exceptions in CM. No. 2725/2022. The application was disposed of accordingly. Petition for Writ (W.P.(C) 948/2022 & CM. No. 2724/2022): The petitioners sought relief in the form of a writ, order, or direction to allow the filing and uploading of Form FC-4 for the Financial Year 2019-20 beyond the scheduled date of June 30, 2021, without any penalty. They also requested the court to prevent adverse measures under sections 13 or 14 of the FCRA Act due to non-filing of the return. The counsel for the petitioner explained that the delay in uploading the form was due to a delay in opening the designated account at a specific bank branch. When questioned about the steps taken to open the account after the relevant amendment was notified, the counsel sought time to provide instructions and relevant documents with an affidavit. The court noted the submission and scheduled a re-notification for March 11, 2022, to allow the petitioner to present the necessary information. This judgment reflects the court's consideration of an exemption application and a petition for a writ regarding the filing of Form FC-4 beyond the deadline. The court allowed the exemption subject to exceptions and directed the petitioner to provide further details regarding the delay in opening the designated account. The case highlights the importance of complying with statutory requirements and seeking legal remedies in case of delays or non-compliance.
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