Validity of enquiry / investigation proceedings - Investment in ...

Investigation of Foreign Investments Under FEMA Proceeds; Court Deems Applicability of Sections Premature.

December 11, 2023

Case Laws     FEMA     HC

Validity of enquiry / investigation proceedings - Investment in foreign companies - violation of Sec.4 of FEMA - The permissibility of reading Sec.3 into Sec.4 requires to be considered independently, and the present stage is too premature for considering it. At any rate it cannot be considered in this proceedings, for, it was held in Raj Kumar Shivhare case [supra] FEMA is a complete Code, and it must be allowed its free space to work itself. - HC

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