2024 (10) TMI 1630 - HC - FEMA

Validity of order passed by the Appellate Tribunal under SAFEMA - Petitioners seek directions to set aside the summons issued to Petitioner No. 1 by ED u/s 37(1) and (3) of the Foreign Exchange Management Act 1999 - HELD THAT - After some arguments learned counsel for the petitioners states that the petitioners would be satisfied in the event this Court were to prepone the hearing before the Tribunal. Keeping in view the averments and submissions in the present case the hearing before the Tribunal is preponed to 4th November 2024. The Tribunal is directed to decide the matter in accordance with law as expeditiously as possible preferably within a month from the next date of hearing. Tribunal is directed not to adjourn the matter at the request of either of the parties.

Summary

**Summary of the Judgement:**The Delhi High Court addressed an appeal challenging an order dated 28th August 2024 by the Appellate Tribunal under SAFEMA in New Delhi. The petitioners sought to set aside a summons issued on 3rd October 2024 by the Directorate of Enforcement, Chennai, under Section 37(1) and (3) of the Foreign Exchange Management Act, 1999. The petitioners expressed satisfaction if the hearing before the Tribunal could be preponed. Consequently, the Court ordered the hearing to be advanced to 4th November 2024 and instructed the Tribunal to resolve the matter expeditiously, ideally within a month from the new hearing date. The Tribunal was also directed not to adjourn the matter at the request of either party. The petition was disposed of, with all parties' rights and contentions remaining open.