J P Morgan India Private Limited vs Special Director, Directorate Of ... on 25 May, 2021
"The Hon'ble High Court Bombay in the
matter of Shashank V. Manohar (W.P. No.
5305 of 2013) has interpreted the
provisions of sub-rule (3) of Rule 4 of the
Foreign Exchange Management
Signature Not Verified
Digitally Signed By:SHALOO
BATRA
Signing Date:27.05.2021
14:01:19 WP(C)Nos.6239 & 6240/2020 Page 33
(Adjudication Proceedings and Appeal)
Rules, 2000 and directed that the
Adjudicating Authority while holding an
inquiry under FEMA shall form an opinion
as to whether the Adjudicating Authority
intends to proceed against the noticee(s)
further. Such opinion is to be formed in
writing stipulating the reasons thereof.