Prohibition on remittances for lotteries: remitting funds for lottery or similar schemes is barred and attracts FEMA penalties. Remittances from India for participation in lotteries, lottery-like operations, money circulation schemes, or remittances purportedly to secure prize money are prohibited. Authorised dealers must inform the public of this prohibition and implement the exchange control restriction. Directions are issued under the Foreign Exchange Management Act and contraventions attract the penalties prescribed under the Act.
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.
Prohibition on remittances for lotteries: remitting funds for lottery or similar schemes is barred and attracts FEMA penalties.
Remittances from India for participation in lotteries, lottery-like operations, money circulation schemes, or remittances purportedly to secure prize money are prohibited. Authorised dealers must inform the public of this prohibition and implement the exchange control restriction. Directions are issued under the Foreign Exchange Management Act and contraventions attract the penalties prescribed under the Act.
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