Appellate Tribunal dismissed FEMA proceedings after the ED could not provide authenticated HSBC Geneva bank statements. The ruling emphasizes that unverified evidence cannot support prosecution.
The tribunal ruled that commissions earned through LIC policies linked to a scheduled offence were rightly treated as proceeds of crime, justifying provisional attachment of property.
The SAFEMA Tribunal dismissed a bank’s appeal, ruling that PMLA attachment of mortgaged property overrides secured rights under the SARFAESI and RDB Acts. The decision affirms the Supreme Court’s NSEL verdict that secured creditors lack priority over assets attached as proceeds of crime.
The SAFEMA Appellate Tribunal held that NRIs cannot buy agricultural land in India, regardless of intended non-agricultural use. Penalty reduced due to bona fide conduct.
Mumbai Magistrate Court grants bail to Akhtar Yunus Khan, a businessman accused in a ₹9.19 crore GST fraud case, citing his cooperation and the completion of custodial interrogation.
Appellate Tribunal reduced a FEMA penalty against an NRI who received property sale proceeds in a resident account, citing the lack of fraudulent intent.
A Mumbai businessman, Tribhuwan Chittranjan Sinha, received bail in a Rs.9.19 crore GST fraud case, with the court noting his cooperation with the investigation.
An appellate tribunal upheld a penalty on an NRI for purchasing agricultural land, dismissing arguments on the ‘omission vs. repeal’ of a key FEMA provision.
Patiala House Courts grants anticipatory bail to a director in a ₹75 crore fake GST ITC fraud case, emphasizing cooperation and documentary evidence.
FEMA Tribunal upholds Special Director Appeals decision, ruling British national was ‘resident in India’ when buying properties in Goa.
