https://www.taxtmi.com/caselaws?id=349197 The Karnataka High Court upheld the decision of the Appellate Tribunal for Foreign Exchange, New Delhi, which ordered the appellants to deposit 10% of the penalty amount within 30 days and provide security for 40% of the penalty under the Foreign Exchange Management Act, 1999. The High Court found the Tribunal's exercise of discretion reasonable and not arbitrary, dismissing the appeal as no legal question was raised. The application for interim stay was also dismissed accordingly. en-us Thu, 14 Sep 2017 00:00:00 +0530 Mon, 09 Oct 2017 11:25:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349197 The Karnataka High Court upheld the decision of the Appellate Tribunal for Foreign Exchange, New Delhi, which ordered the appellants to deposit 10% of the penalty amount within 30 days and provide security for 40% of the penalty under the Foreign Exchange Management Act, 1999. The High Court found the Tribunal's exercise of discretion reasonable and not arbitrary, dismissing the appeal as no legal question was raised. The application for interim stay was also dismissed accordingly. Case-Laws FEMA Thu, 14 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349197