https://www.taxtmi.com/caselaws?id=271771 The court dismissed the petition challenging the legality and validity of RBI Circulars, affirming their applicability to the petitioners' import transactions. It found the petitioners violated the Circulars and Foreign Trade Policy by failing to export the required amount of gold, leading to the imposition of penalties. The court upheld the authority of RBI and DGFT in regulating imports and exports, emphasizing compliance with guidelines for economic stability. en-us Wed, 23 Dec 2015 00:00:00 +0530 Wed, 05 Dec 2018 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271771 The court dismissed the petition challenging the legality and validity of RBI Circulars, affirming their applicability to the petitioners' import transactions. It found the petitioners violated the Circulars and Foreign Trade Policy by failing to export the required amount of gold, leading to the imposition of penalties. The court upheld the authority of RBI and DGFT in regulating imports and exports, emphasizing compliance with guidelines for economic stability. Case-Laws FEMA Wed, 23 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271771