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of <h1>Appellate Tribunal Sets Up Benches for Foreign Exchange Cases; Division Bench Handles Penalties Over Rs. 20 Lakhs</h1> The Appellate Tribunal for Foreign Exchange, under the Foreign Exchange Management Act, 1999, has constituted specific benches for hearing cases. These include Single Member Benches and a Tribunal Division Bench. The Division Bench, comprising either the Chairperson with a Member or two Members jointly, will handle cases where penalties exceed Rs. 20 lakhs. All other cases will be heard by Single Member Benches. The Chairperson will allocate work among these benches as needed.
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