ED Fails to Prove HSBC Geneva Account, FEMA Charges Dropped

UoI (D.L.A.) ED Vs Alok Bhartia & Anr (Appellate Tribunal Under SAFEMA At Delhi) From Geneva to Nowhere – FEMA Tribunal Finds ED’s Case Built on Missing Evidence & Retractions No Proof, No FEMA Breach- HSBC Geneva Account Allegation Fails – The Appellate Tribunal under FEMA, New Delhi, dismissed the appeal filed by the Enforcement Directorate (ED) against Shri Alok Bhartia & Smt. Alpana Bhartia, upholding the Adjudicating Authority’s order dated 16.10.2018 that had dropped proceedings u/s 4 of FEMA r/w Regulation 3 of the Foreign Currency Accounts Regulations, 2000 The case...