https://www.taxtmi.com/caselaws?id=112152 Departmental adjudication under the Foreign Exchange Regulation Act, 1973 and criminal prosecution for the same transaction operate independently in fiscal and economic-offence matters. Adjudication under sections 50 and 51 is penal-administrative rather than a substitute for prosecution under section 56; therefore, its continuation does not prejudice the criminal defence or attract the double-jeopardy protection under Article 20(2). Repeal of the 1973 Act by the Foreign Exchange Management Act, 1999 does not invalidate proceedings or notices preserved by the saving provision in section 49 when initiated within the statutory period. Departmental proceedings may consequently continue alongside the criminal trial. en-us Tue, 10 Apr 2007 00:00:00 +0530 Thu, 26 Apr 2012 18:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112152 Departmental adjudication under the Foreign Exchange Regulation Act, 1973 and criminal prosecution for the same transaction operate independently in fiscal and economic-offence matters. Adjudication under sections 50 and 51 is penal-administrative rather than a substitute for prosecution under section 56; therefore, its continuation does not prejudice the criminal defence or attract the double-jeopardy protection under Article 20(2). Repeal of the 1973 Act by the Foreign Exchange Management Act, 1999 does not invalidate proceedings or notices preserved by the saving provision in section 49 when initiated within the statutory period. Departmental proceedings may consequently continue alongside the criminal trial. Case-Laws Companies Law Tue, 10 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112152