https://www.taxtmi.com/caselaws?id=112508 Proceedings under the repealed foreign exchange regime were not time-barred under section 49(3) of the Foreign Exchange Management Act, 1999 because the show-cause notice was issued within the prescribed two-year period, so the initiation remained valid. However, the adjudication was vitiated because the appellant was not given a reasonable opportunity to obtain and place material documents before the authority; the notice had gone to an outdated address, time was sought, and the later material was never examined. The adverse orders were therefore set aside and the matter remanded for fresh adjudication after proper hearing. en-us Wed, 06 May 2009 00:00:00 +0530 Sun, 09 Nov 2014 22:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112508 Proceedings under the repealed foreign exchange regime were not time-barred under section 49(3) of the Foreign Exchange Management Act, 1999 because the show-cause notice was issued within the prescribed two-year period, so the initiation remained valid. However, the adjudication was vitiated because the appellant was not given a reasonable opportunity to obtain and place material documents before the authority; the notice had gone to an outdated address, time was sought, and the later material was never examined. The adverse orders were therefore set aside and the matter remanded for fresh adjudication after proper hearing. Case-Laws Companies Law Wed, 06 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112508