https://www.taxtmi.com/caselaws?id=215568 Penal vicarious liability for a company director under foreign exchange law requires proof that the person was in charge of and responsible for the company's day-to-day business at the relevant time, or that the contravention occurred with consent, connivance or neglect; mere directorship is insufficient. The text also notes that inordinate, unexplained delay in serving notice can materially prejudice the defence where records are stale or unavailable, and such prejudice may vitiate the proceedings. On these principles, liability could not be sustained without the requisite factual foundation and proof of actual involvement. en-us Fri, 06 Jul 2012 00:00:00 +0530 Wed, 08 Aug 2012 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215568 Penal vicarious liability for a company director under foreign exchange law requires proof that the person was in charge of and responsible for the company's day-to-day business at the relevant time, or that the contravention occurred with consent, connivance or neglect; mere directorship is insufficient. The text also notes that inordinate, unexplained delay in serving notice can materially prejudice the defence where records are stale or unavailable, and such prejudice may vitiate the proceedings. On these principles, liability could not be sustained without the requisite factual foundation and proof of actual involvement. Case-Laws FEMA Fri, 06 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215568