Singapore Property Purchase: Penalty Upheld in FEMA Contravention Case

Union of India Vs Rajeev Jhawar (Appellate Tribunal Under SAFEMA at New Delhi)

FEMA Violation in Singapore Property Purchase- Penalty Found Reasonable – No Case for Penalty Enhancement – Tribunal Upholds ₹1 Crore Fine in Jhawar FEMA Case

The Union of India filed an appeal challenging the order dated 29.09.2020 passed by the Special Director, Enforcement Directorate, Kolkata, whereby penalty of ₹1 crore each had been imposed on Shri Rajeev Jhawar & Shri Brij Kishore Jhawar for contravention of provisions of the Foreign Exchange Management Act, 199

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