Foreign exchange restriction: authorised dealers barred from releasing funds to specified sponsors without central bank clearance. Pursuant to the High Court's prima facie directions, authorised dealers are directed not to release any foreign exchange to the three specified sponsor companies in connection with the World Cup event without prior clearance from the central bank's Exchange Control Department; the circular states these are temporary measures issued under statutory FEMA powers.
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Provisions expressly mentioned in the judgment/order text.
Foreign exchange restriction: authorised dealers barred from releasing funds to specified sponsors without central bank clearance.
Pursuant to the High Court's prima facie directions, authorised dealers are directed not to release any foreign exchange to the three specified sponsor companies in connection with the World Cup event without prior clearance from the central bank's Exchange Control Department; the circular states these are temporary measures issued under statutory FEMA powers.
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