Penalties under FEMA: civil monetary sanctions and confiscation regimes for unlawful foreign asset holdings and continuing breaches. Section 13 establishes a civil penalty regime for contraventions of the Act, subordinate instruments, and RBI authorisation conditions, with penalties based on whether the sum involved is quantifiable (up to three times the sum) or not (statutory cap), and increased exposure for continuing breaches through additional daily penalties. Sections 13(1A)-(1D) impose enhanced penalties and confiscation for undisclosed foreign assets beyond prescribed thresholds, enable prosecution upon adjudicator recommendation and enforcement approval, and restrict cognizance to complaints by authorised officers. Section 13(2) permits confiscation and repatriation or retention directions. Adjudication is tiered by monetary thresholds among enforcement officers.
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.
Penalties under FEMA: civil monetary sanctions and confiscation regimes for unlawful foreign asset holdings and continuing breaches.
Section 13 establishes a civil penalty regime for contraventions of the Act, subordinate instruments, and RBI authorisation conditions, with penalties based on whether the sum involved is quantifiable (up to three times the sum) or not (statutory cap), and increased exposure for continuing breaches through additional daily penalties. Sections 13(1A)-(1D) impose enhanced penalties and confiscation for undisclosed foreign assets beyond prescribed thresholds, enable prosecution upon adjudicator recommendation and enforcement approval, and restrict cognizance to complaints by authorised officers. Section 13(2) permits confiscation and repatriation or retention directions. Adjudication is tiered by monetary thresholds among enforcement officers.
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