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MANOJ MISRA, RAVI NATH TILHARI
Fiserv India Private Limited – Appellant
Versus
Assistant Director – Respondent
JUDGMENT
Manoj Misra, J.
1. By this petition the petitioner has sought quashing of a show cause notice dated 30th September 2020 issued by the Assistant Director, Directorate of Enforcement, Zonal Office, Lucknow (first respondent) thereby calling for an explanation from the noticee (the petitioner) as to why adjudication proceeding as contemplated in Section 13 of the Foreign Exchange Management Act, 1999 (for short FEMA) be not held against it in the manner as provided in Rule 4 of the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000 (as amended), read with rules and regulations made thereunder and as to why penalty as provided under Section 13 (1) of FEMA be not imposed for the contraventions as brought under the complaint.
2. Before noticing and addressing the issues raised it would be apposite to briefly notice the background facts of the case, as could be elicited from the petition —
(i) The petitioner is a private limited company incorporated under the Companies Act with its registered office at NOIDA.
(ii) The company had been engaged in the business of software development and export of computer & business support services. Initially, the compan
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....
Two-stage inquiry process - Holding of inquiry - Concept of principles of natural justice and fairness though are inbuilt in the Rules even at the first stage of the initiation of an inquiry, that is....
The adjudicating authority is required to form an opinion after giving notice to the petitioner before issuing the show cause notice.
The court established that the adjudication process under FEMA must be followed, and a show cause notice is not typically subject to judicial review unless jurisdictional errors are evident.
Delayed adjudication attributable to the revenue violates procedural fairness and the principles of natural justice.
The tribunal established that FEMA's regulatory framework extends to the Exclusive Economic Zone, mandating compliance with export regulations regardless of challenges faced, with penalties imposed b....
Penalties for contraventions under FEMA must be strictly adhered to, regardless of intent; non-compliance with export declaration for repossessed assets constitutes a violation.
The main legal point established in the judgment is that proceedings arising from a show-cause notice should be concluded within a reasonable period, and the failure to do so without a satisfactory e....
The omission of a statutory provision does not negate the authority to issue notices for past actions, and the existence of a remedy under FEMA does not preclude judicial review on grounds of natural....
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