https://www.taxtmi.com/caselaws?id=96984 Refusal to comply with a binding summons issued under Section 40 of the Foreign Exchange Regulation Act, 1973 constitutes contravention of the Act and is punishable under Section 56. The Court treated the summons as a statutory direction within a self-contained enforcement scheme, and held that disobedience is not excluded from penal liability merely because no monetary value is involved. On that basis, complaints alleging non-compliance with the summons were held maintainable and could proceed in accordance with law. en-us Tue, 09 May 2000 00:00:00 +0530 Sat, 03 Dec 2016 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96984 Refusal to comply with a binding summons issued under Section 40 of the Foreign Exchange Regulation Act, 1973 constitutes contravention of the Act and is punishable under Section 56. The Court treated the summons as a statutory direction within a self-contained enforcement scheme, and held that disobedience is not excluded from penal liability merely because no monetary value is involved. On that basis, complaints alleging non-compliance with the summons were held maintainable and could proceed in accordance with law. Case-Laws FEMA Tue, 09 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96984