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NAVIN CHAWLA
J. P. Morgan India Private Limited – Appellant
Versus
Special Director, Directorate Of Enforcement – Respondent
JUDGMENT :
1. These petitions have been filed by the petitioner challenging the Show Cause Notice(s) dated 29.01.2020 and the consequent Order(s) dated 05.06.2020 and the Communication(s) dated 03.09.2020 of the respondent no. 1, proceeding with the inquiry against the petitioner under the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000 (hereinafter referred to as the ‘Adjudication Rules’) on the alleged violation of Section 6(6) of the Foreign Exchange Management Act, 1999 (hereinafter referred to as the ‘FEMA’) read with Regulation 3 of the Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2000 (hereinafter referred to as the ‘Place of Business Regulations’).
2. As the Show Cause Notice(s) and the Impugned Order(s)/Communication(s) are based on the same grounds for proceeding against the petitioner and the challenge thereto is common in both the petitions, the petitions are being adjudicated by way of this common judgment and order.
3. The petit
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The formation of an opinion under Rule 4(3) of the FEMA Rules does not necessitate written reasons, and is the commencement of inquiry where all defenses must be presented.
The adjudicating authority is required to form an opinion after giving notice to the petitioner before issuing the show cause notice.
Point of law : information of incorrect entries was in public domain and with the authorities, as custodian of the records, who sought their correction, whereas in the instant case the information wi....
The SEBI Adjudication process mandates a preliminary opinion for the appointment of an Adjudicating Officer, and failure to record this opinion can vitiate subsequent proceedings.
The duty of adequate disclosure and the principles of natural justice must be considered in the context of supplying relied-upon documents to the noticee, as established in previous judgments such as....
Income Tax Officer has no jurisdiction to issue a notice under Section 34 of the Income Tax Act.
Quasi-judicial authorities must provide reasons for their decisions to ensure fairness and prevent arbitrary actions.
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