FOREIGN EXCHANGE MANAGEMENT (ENCASHMENT OF DRAFT, CHEQUE, INSTRUMENT AND PAYMENT OF INTEREST) RULES, 2000. - Foreign Exchange Management (Encashment of Draft, Cheque, Instrument And Payment of Interest) Rules, 2000.
FOREIGN EXCHANGE MANAGEMENT (ENCASHMENT OF DRAFT, CHEQUE, INSTRUMENT AND PAYMENT OF INTEREST) RULES, 2000. - Foreign Exchange Management (Encashment of Draft, Cheque, Instrument And Payment of Interest) Rules, 2000.
Interest on seized currency: entitlement to interest upon return when currency is not implicated in proceedings. Seized Indian currency found not involved in contravention must be returned with interest at the rate of 6% per annum from date of seizure to payment; ... Summary
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Interest on seized currency: entitlement to interest upon return when currency is not implicated in proceedings.
Seized Indian currency found not involved in contravention must be returned with interest at the rate of 6% per annum from date of seizure to payment; during adjudication the Adjudicating Authority may order return and direct payment of the same interest where the currency is irrelevant to the adjudication.
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