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