Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
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Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Material recovered in a search at a third party's premises could validly support proceedings against another person under the second Explanation to Section 148, even though the searched person's case was under an interim restraint and the search might later be challenged. The Court held that such interim protection was only prima facie and did not declare the search illegal or nullify the material seized. Validity of the notice had to be tested on the date of issue, when no stay operated against the search proceedings. Later invalidation of the search would not undo jurisdiction already validly exercised or vitiate proceedings already initiated. The writ petition was dismissed.
Material recovered in a search at a third party's premises could validly support proceedings against another person under the second Explanation to Section 148, even though the searched person's case was under an interim restraint and the search might later be challenged. The Court held that such interim protection was only prima facie and did not declare the search illegal or nullify the material seized. Validity of the notice had to be tested on the date of issue, when no stay operated against the search proceedings. Later invalidation of the search would not undo jurisdiction already validly exercised or vitiate proceedings already initiated. The writ petition was dismissed.
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