https://www.taxtmi.com/caselaws?id=98246 The Reserve Bank's foreign-exchange regulatory power extends to transactions whose direct or indirect effects may affect foreign exchange resources, including travel permissions under Form P. A writ of mandamus is available only where there is a corresponding legal duty and an enforceable legal right; where no such right exists, the court will not compel permission merely because no direct foreign exchange release is sought. The Bank's refusal was treated as within its statutory and policy authority, and not shown to be arbitrary or beyond power. en-us Tue, 07 Sep 1965 00:00:00 +0530 Thu, 19 Jan 2012 17:37:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98246 The Reserve Bank's foreign-exchange regulatory power extends to transactions whose direct or indirect effects may affect foreign exchange resources, including travel permissions under Form P. A writ of mandamus is available only where there is a corresponding legal duty and an enforceable legal right; where no such right exists, the court will not compel permission merely because no direct foreign exchange release is sought. The Bank's refusal was treated as within its statutory and policy authority, and not shown to be arbitrary or beyond power. Case-Laws Companies Law Tue, 07 Sep 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98246