https://www.taxtmi.com/caselaws?id=75436 The court quashed the show cause notice issued by the Special Director, ED against the petitioners for contravention of Sections 7 and 8 FEMA. It held that the proceedings initiated under Section 16(3) FEMA were illegal, and the invocation of Sections 7 and 8 FEMA against the petitioners was not valid. The court also ruled that the liability of directors under Section 42 FEMA did not apply in this case. Additionally, the notifications empowering the Special Director, ED were challenged but were not the focus of the court's decision. The writ petitions were allowed, and costs were awarded to the petitioners. en-us Fri, 26 Mar 2010 00:00:00 +0530 Sat, 12 Nov 2016 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75436 The court quashed the show cause notice issued by the Special Director, ED against the petitioners for contravention of Sections 7 and 8 FEMA. It held that the proceedings initiated under Section 16(3) FEMA were illegal, and the invocation of Sections 7 and 8 FEMA against the petitioners was not valid. The court also ruled that the liability of directors under Section 42 FEMA did not apply in this case. Additionally, the notifications empowering the Special Director, ED were challenged but were not the focus of the court's decision. The writ petitions were allowed, and costs were awarded to the petitioners. Case-Laws Customs Fri, 26 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75436