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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Trade Licenses Suspended Under Foreign Exchange Act When Detention Orders Issued Against Key Business Individuals</h1> The statutory provision outlines conditions for suspending trade licenses under the Foreign Trade (Regulation) Rules, 1993. Licenses can be suspended if a detention order is issued against an individual, partner, or director under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act. The suspension order ceases when the detention order is revoked by an Advisory Board, before referral to the Board, or set aside by a court. Additionally, licenses may be suspended when cancellation proceedings are initiated.
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