https://www.taxtmi.com/caselaws?id=393958 The appeal was dismissed, affirming penalties imposed on the Company and the appellant for contravention of Section 10(6) of the FEMA Act. The Court held the appellant, as Managing Director, responsible for the continued offence post-management change, emphasizing his failure to rectify the situation despite awareness. The judgment highlighted the liability of the person in charge for ongoing contraventions, dismissing arguments of non-responsibility for initial breaches. en-us Thu, 05 Mar 2020 00:00:00 +0530 Fri, 06 Nov 2020 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393958 The appeal was dismissed, affirming penalties imposed on the Company and the appellant for contravention of Section 10(6) of the FEMA Act. The Court held the appellant, as Managing Director, responsible for the continued offence post-management change, emphasizing his failure to rectify the situation despite awareness. The judgment highlighted the liability of the person in charge for ongoing contraventions, dismissing arguments of non-responsibility for initial breaches. Case-Laws FEMA Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393958