Delhi HC Upholds FEMA Penalty on OCI Cardholder

Martin Jebarathna Doss Antonisamy Vs Reserve Bank of India (Delhi High Court) Delhi High Court dismissed the writ petition filed by Martin Jebarathna Doss Antonisamy challenging the Reserve Bank of India’s (RBI) compounding order dated August 19, 2024. The petitioner, an Overseas Citizen of India (OCI) and U.S. citizen, was fined ₹41,04,675 under the Foreign Exchange Management Act (FEMA), 1999, for purchasing agricultural land in Tamil Nadu without RBI approval. Despite complying with RBI’s directive to transfer the land to an eligible Indian resident, he contested the penalty as ex...