https://www.taxtmi.com/caselaws?id=101467 For the purpose of retaining seized currency beyond one year under section 41 of the Foreign Exchange Regulation Act, proceedings under section 51 commence only when the formal adjudicatory notice under rule 3(3) is issued. A preliminary show-cause notice under rule 3(1) is only a first-stage notice to consider whether adjudication should be initiated and does not by itself amount to commencement of proceedings. Reading sections 41, 50 and 51 with rule 3 of the 1974 Rules, the HC held that continued retention was unjustified where no rule 3(3) notice had been issued within the one-year period. en-us Wed, 24 Dec 1986 00:00:00 +0530 Thu, 09 Feb 2012 18:03:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101467 For the purpose of retaining seized currency beyond one year under section 41 of the Foreign Exchange Regulation Act, proceedings under section 51 commence only when the formal adjudicatory notice under rule 3(3) is issued. A preliminary show-cause notice under rule 3(1) is only a first-stage notice to consider whether adjudication should be initiated and does not by itself amount to commencement of proceedings. Reading sections 41, 50 and 51 with rule 3 of the 1974 Rules, the HC held that continued retention was unjustified where no rule 3(3) notice had been issued within the one-year period. Case-Laws Companies Law Wed, 24 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101467