Jayant Nath, J.

1. By the present appeal, the appellants seek to impugn the order dated 24.01.2013 passed by the learned Single Judge dismissing the writ petitions of the appellants. The present order will dispose of LPA 79/2013 and LPA 80/2013 which are based on common facts. For convenience the facts of LPA 79/2013 are stated here.

2. The brief facts giving rise to the said petitions is that a complaint dated 01.07.2011 was filed under Section 16 (3) of the Foreign Exchange Management Act, 1999 (hereinafter referred to as “FEMA”) for alleged contravention of Section 6(3)(b) of FEMA read with Regulation 5(1) of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 and Para 2, 3 and 9(1) (A) & (B) of Schedule 1 of the said Regulation read with Press Note no. 3 (2007 series) issued by Ministry of Commerce and Industry, Department of Industrial Policy and Promotion (SIA) (FC Division) by M/s Etisalat DB Telecom Pvt. (formerly, M/s Swan Telecom Pvt. Ltd.).

3. According to the complaint, it is alleged that M/s Swan Telecom Pvt. Ltd , (M/s Etisalat DB Telecom Pvt. Ltd.) contravened the condition of clause (vi), (v