Bombay High Court Upholds Penalty for FERA Violation in Foreign Exchange Remittance Case. Directors and Company Held Liable for Making Payment to Non-Resident Without RBI Permission Under Section 9(1)(a) and 9(1)(d) of Foreign Exchange Regulation Act, 1973.
31 Jul 2006The case involves three appeals filed by Associated Capsules Private Limited and its two directors, Jasjit Singh and Ajit Singh, against an order of t...




