Alternative statutory remedy and unexplained delay barred writ review of customs confiscation adjudication, leaving merits for appellate consideration...
Authorised courier due diligence protects against penalties where declared exports conceal prohibited goods despite proper documentation and customs p...
Customs-controlled container movement now extends to DP World facilities, subject to segregation, inspections, reconciliation, and EXIM cargo priority...
Following a November 2024 MoU between RBI and Maldives Monetary Authority, bilateral trade transactions between India and Maldives may now be settled in Indian Rupee (INR) and/or Maldivian Rufiyaa (MVR) in addition to the existing Asian Clearing Union (ACU) mechanism. This regulatory amendment, issued under FEMA SSSS10(4) and 11(1), modifies the Foreign Exchange Management Regulations 2023 regarding payment methods between ACU member countries. The directive, effective immediately, establishes a framework promoting local currency usage for cross-border transactions while maintaining the ACU settlement option that was previously available.
Following a November 2024 MoU between RBI and Maldives Monetary Authority, bilateral trade transactions between India and Maldives may now be settled in Indian Rupee (INR) and/or Maldivian Rufiyaa (MVR) in addition to the existing Asian Clearing Union (ACU) mechanism. This regulatory amendment, issued under FEMA SSSS10(4) and 11(1), modifies the Foreign Exchange Management Regulations 2023 regarding payment methods between ACU member countries. The directive, effective immediately, establishes a framework promoting local currency usage for cross-border transactions while maintaining the ACU settlement option that was previously available.
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