Reserve Bank inspection powers to verify information and compel production of records ensure compliance with foreign exchange law. Reserve Bank may cause inspections of any authorised person's business by officers specially authorised in writing to verify furnished information, obtain information not furnished on request, or secure compliance with the Act and subordinate instruments. Every authorised person, and where applicable every director, partner or officer of a company or firm, must produce books, accounts and other documents and furnish statements or information as required by the inspecting officer within the time and manner directed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reserve Bank inspection powers to verify information and compel production of records ensure compliance with foreign exchange law.
Reserve Bank may cause inspections of any authorised person's business by officers specially authorised in writing to verify furnished information, obtain information not furnished on request, or secure compliance with the Act and subordinate instruments. Every authorised person, and where applicable every director, partner or officer of a company or firm, must produce books, accounts and other documents and furnish statements or information as required by the inspecting officer within the time and manner directed.
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