High Court of Judicature at Bombay hears writ petition against order rejecting preliminary objection to show cause notice under Section 49(3) of FEMA – Petitioners challenge validity of notice on limitation ground. Interpretation of 'take notice' in Section 49(3) in light of Rule 3 of Adjudication Proceedings and Appeal Rules, 1974 is central.
16 Dec 2010The dispute arose from a show cause notice issued by the Assistant Director, Enforcement Directorate on 31 May 2002, calling upon Star India Private L...




