Adjudication Order penalized under FEMA - Writ of Mandamus to foreclose fixed deposit created by first...

Adjudication Order penalized under FEMA - Writ of Mandamus to foreclose fixed deposit created by first respondent using petitioners' money and direct Bank to release funds to petitioners. During proceedings under Foreign Exchange Management Act, first respondent froze petitioners' accounts and transferred funds. With proceedings dropped per Adjudication Order, High Court allows Writ Petition, directing release of Fixed Deposit amount to petitioners promptly. .....

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