https://www.taxtmi.com/caselaws?id=362664 The Tribunal upheld the findings of the Adjudicating Authority that the appellants violated FEMA provisions by remitting funds to a Wholly Owned Subsidiary for investment instead of trading, making false declarations in ODA forms, failing to repatriate liquidation proceeds, resulting in penalties totaling ? 4,10,00,000 on AEL and ? 1,02,50,000 on Sh. Rajesh S. Adani. The Tribunal dismissed the appeals as lacking merit. en-us Thu, 28 Jun 2018 00:00:00 +0530 Sat, 30 Jun 2018 08:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362664 The Tribunal upheld the findings of the Adjudicating Authority that the appellants violated FEMA provisions by remitting funds to a Wholly Owned Subsidiary for investment instead of trading, making false declarations in ODA forms, failing to repatriate liquidation proceeds, resulting in penalties totaling ? 4,10,00,000 on AEL and ? 1,02,50,000 on Sh. Rajesh S. Adani. The Tribunal dismissed the appeals as lacking merit. Case-Laws FEMA Thu, 28 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362664