Fema / RBI : The article explains that the FLA Return is a position-based FEMA compliance triggered by outstanding foreign investments, not by ...
Fema / RBI : RBI has updated the FLA Return FAQs, clarifying who must file, the 15 July deadline, revision procedures, and reporting requiremen...
Fema / RBI : The 2026 FEMA amendment expands portfolio investment eligibility beyond NRIs and OCIs to all individuals resident outside India. I...
Fema / RBI : The article examines how recent FEMA reforms have simplified downstream investments while highlighting unresolved issues involving...
Fema / RBI : India has expanded portfolio investment access by allowing any individual resident outside India to invest in listed Indian compan...
Corporate Law : Authorities found Dubai property acquisitions by Indian residents routed through hawala, leading to action for violations of FEMA ...
Fema / RBI : BCAS submits comments on RBI’s draft External Commercial Borrowings (ECB) regulations, seeking clarity on eligibility, KYC norms...
Fema / RBI : BCAS provides feedback on draft FEMA trade regulations, flags concerns over AD bank powers, seeks clarity and consistency....
Fema / RBI : New FEMA rules allow settlement of foreign exchange violations with penalties up to ₹5 crore. Pending cases will follow earlier ...
Fema / RBI : The Government amended FEMA regulations, enabling resolution of violations up to ₹5 crore by paying fines. Ongoing cases follow ...
Fema / RBI : The Karnataka High Court upheld the Appellate Tribunal's finding that the respondents satisfied the definition of person resident ...
Fema / RBI : The key issue was whether cash falls within the definition of property under the PBPT Act. The Tribunal ruled that cash is a tangi...
Fema / RBI : The case examined whether Indian assets could remain seized after foreign asset value was repatriated. The Tribunal ruled that onc...
Fema / RBI : The appellant claimed the disputed funds were received unknowingly and had attempted to return them. The Tribunal granted relief b...
Fema / RBI : The Tribunal held that bank accounts cannot remain frozen merely because the account holder is related to a suspect or under inves...
Fema / RBI : The RBI has withdrawn non-operative FEMA circulars after reviewing directives issued since June 2000. The ruling helps Authorised ...
Fema / RBI : RBI has rationalised FEMA reporting by introducing revised return formats, discontinuing several reports, and easing compliance re...
Fema / RBI : RBI has allowed Authorised Dealer Category-I banks to exclude hedged positions arising from FCNR(B) deposits, ECBs, and OFCBs whil...
Fema / RBI : The RBI has directed all AD Category-I banks to submit daily data on FCNR(B) deposits, ECBs, and OFCBs mobilized under its swap fa...
Fema / RBI : RBI's Sixth Amendment to the FEMA Deposit Regulations broadens the scope of SNRR accounts by permitting IFSC branches to maintain ...
The Appellate Tribunal under SAFEMA held that attachment under PMLA cannot stand without evidence showing flow of tainted funds. The key takeaway is that mere suspicion or indirect linkage is insufficient to sustain attachment.
The Tribunal upheld attachment as no documentary evidence was provided to establish the source of funds. It held that unexplained money can be treated as proceeds of crime.
The issue involved ambiguity in calculating late submission fees for ECB returns. The RBI clarified separate treatment of returns and introduced clearer computation rules. The key takeaway is stricter and more transparent penalty calculation.
The Tribunal found that the relationship between parties was a commercial arrangement for smooth supply of goods. It held that such arrangements do not amount to benami transactions. commercial dealings must be distinguished from benami arrangements.
The Tribunal found no evidence linking the appellant to receipt of proceeds of crime under PMLA. It set aside the attachment, holding that mere suspicion without proof cannot justify action.
The Tribunal confirmed liability of directors under Section 42 based on their role in managing the company. It found no error in holding them responsible. Key takeaway: managerial control establishes accountability.
The Tribunal upheld FERA violations involving unauthorized foreign exchange transfers through hawala channels. However, considering delay and circumstances, it reduced the penalty significantly.
The Tribunal upheld contravention but reduced penalties due to lack of justification for maximum fines. It emphasized proportionality in penalty determination. Key takeaway: penalty must be reasoned and proportionate.
The Tribunal upheld attachment, ruling that funds used in a conspiracy can qualify as proceeds of crime. It held that even layered investments linked to illegal activity are attachable under PMLA.
The amendment introduces a system where assets from foreign contributions vest in a designated authority upon cancellation or cessation of registration. This ensures better control and prevents misuse of foreign-funded assets.
