Contravention of Sections 8(3), 8(4), and 9(1)(b) of FERA ...

Illegal foreign remittances disguised as import charges upheld - appellant controlled firms receiving funds sans actual imports.

Case Laws FEMA

September 19, 2024

Contravention of Sections 8(3), 8(4), and 9(1)(b) of FERA established - illegal foreign exchange remittance abroad disguised as charges for imports that never occurred. Sections apply to 'person', not limited to 'importer'. Evidence showed appellant controlled firms receiving remittances despite claims of missing import documents. Customs reports confirmed no diamonds imported against remittances. Appellant orchestrated modus operandi for illegal remittances. Composite penalty upheld for contraventions by appellant and co-appellant. Appeals dismissed.

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Contravention of Sections 8(3), 8(4), and 9(1)(b) of FERA ...

Illegal foreign remittances disguised as import charges upheld - appellant controlled firms receiving funds sans actual imports.

Case Laws FEMA

September 19, 2024

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