9911796707
|
Home
Issues:
1. Whether an appeal filed after the repeal of FERA is governed under the provisions of section 17 or section 19 of the FEMA? Analysis: The judgment revolves around the issue of whether appeals filed after the repeal of the Foreign Exchange Regulation Act, 1973 (FERA) are to be governed by section 17 or section 19 of the Foreign Exchange Management Act, 1999 (FEMA). The appellant sought the transfer of the appeal before the Special Director (Appeals) under section 17 of FEMA, arguing that the appeal was filed post the repeal of FERA. The respondent contended that the impugned order was passed by an Adjudicating Officer without the requisite qualifications under FEMA, making section 17 inapplicable. The crux of the matter lies in determining the appropriate statutory provision for filing appeals post the repeal of FERA. The judgment delves into the statutory provisions of section 49 of FEMA, which deals with the repeal and saving of the repealed Act (FERA). Sub-section (5) of section 49 contains a saving clause, preserving certain rights and appeals under the repealed Act. The Tribunal analyzed the provisions to ascertain the legislative intent behind the saving clause and its applicability to pending and future appeals filed under the repealed Act. The interpretation of the saving clause is crucial in determining the continuity of rights and remedies available to aggrieved parties post the repeal of FERA. The Tribunal examined the definitions and provisions of sections 16, 17, and 19 of FEMA to discern the scope and applicability of each section concerning appeals against orders of Adjudicating Authorities. The judgment emphasized the need for a harmonious construction of the statutory provisions to ensure the smooth functioning of the legal system and avoid any ambiguity or confusion. By interpreting the relevant sections in conjunction with the saving clause, the Tribunal aimed to provide clarity on the proper forum and procedure for filing and adjudicating appeals under the new regulatory framework of FEMA. Ultimately, the Tribunal concluded that appeals filed after the repeal of FERA are to be governed by section 19 of FEMA, not section 17, as contended by the appellants. The judgment highlighted the importance of upholding the legislative intent, ensuring continuity in legal proceedings, and safeguarding the rights of appellants under the new regulatory regime. The decision provided guidance on the procedural aspects of filing appeals under FEMA post the repeal of FERA, clarifying the jurisdiction and requirements for such appeals.
|
