Contravention of a prohibitory order attracts imprisonment, fine, and an additional value-linked financial penalty for dealing with prohibited assets. Section 34 of the Foreign Contribution (Regulation) Act, 2010 penalises contravention of a prohibitory order served under section 10 where the affected ... Summary
Contravention of a prohibitory order attracts imprisonment, fine, and an additional value-linked financial penalty for dealing with prohibited assets.
Section 34 of the Foreign Contribution (Regulation) Act, 2010 penalises contravention of a prohibitory order served under section 10 where the affected person pays, delivers, transfers, or otherwise deals with any article, currency or security contrary to that order. Punishment may include imprisonment up to three years, fine, or both, along with an additional fine linked to the market value or amount involved.
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