that Section 12 FERA 1947 is pari materia with Section 7 FEMA and
Section 10 FERA 1947 is pari materia with Section 8 ... FEMA. As far as
FERA 1973 is concerned, Section 18 thereof corresponds to Section 7
FEMA and Section 16 FERA to Section 8 FEMA
Foreign Exchange (FE) under Section 8 of the Act
would have to be seen. Section 8 runs thus:
8. Realisation and repatriation of foreign exchange ... Section 16 of FERA was enacted in negative terms
of what an Indian person should not do, without RBI permission,
Section 8 of FEMA
Foreign Exchange Management Act, 1999 (for short "the FEMA")- Section 8 of the FEMA provides that save as otherwise provided in that ... powers under erstwhile Section 18(2) of the FERA are no longer available under the FEMA whose Section 8 of the FEMA shall apply
Special Director, ED purportedly took note of the contravention of Sections 7 and 8 FEMA, in fact related to a period prior to the coming ... complaint preceding it invoke only the provisions of Sections 7 and 8 FEMA read with Section 42 thereof and not the provisions of the FERA
clearly made out a
case of violation of Section 8 of FEMA read with
4 4
Regulation 3 of the Foreign Exchange Management
(Realization, Repatriation ... whether it could justify the
appellants’ case as contemplated under Section 8 of
FEMA.
22. Instead, the High Court seemed to have
proceeded on wrong
therefore, the same cannot be executed.
5.4 That in accordance with Section 13(c) of the
CPC, the foreign judgment is not conclusive since ... FEMA Act
and the Regulations are applicable, the judgement
and decree are not conclusive.
5.5 Assailing the foreign judgement in context of
Section
summons issued by the Enforcement Directorate under Section 37 of the FEMA.
8. Section 37 of FEMA reads as follows:-
''37. Power ... refer to Section 13(2) of the FEMA. The explanation to Section 13(2) defines ''property" and Section 13(2)(c) deals
Section 37A under the Act. Thus, the Authorised Officer as defined under
Section 2(cc) is with reference to Section 37A of FEMA.
8. Section ... foreign security or immovable property acquired in violation of
Section 4 of FEMA.
11. Section 37A(2) contemplates that “The order of seizure along with
FEMA replaced FERA and it was brought into force on 01.06.2000. Section 49 of the
FEMA contains the sunset clause. Section 49(4) of FEMA ... Appellate Tribunal in line with
Section 19 read with Section 49(5)(a) of the FEMA.
8. Section 50 of the FERA provides that
Notice No.1); for contravention of provisions of
Section 8 of FEMA, 1999 read with provisions of
Section 3(b) of Foreign Exchange Management
(Realization ... Noticee 5 Sh
Ramani Sastri for contravention of provisions of
Section 8 of FEMA, 1999 read with provisions of
Section 3(b) of Foreign Exchange
