https://www.taxtmi.com/caselaws?id=394510 Where an accused had already received an opportunity in the adjudicatory process, absence of a fresh opportunity notice under the Foreign Exchange Regulation Act did not vitiate prosecution. The record also showed no reliable proof that prior permission or extension of time had been obtained from the Reserve Bank of India for realisation of export proceeds, and the statutory requirement remained unfulfilled. A-4 to A-6 were held responsible where their export quotas were used, the declarations were jointly signed, and reasonable steps to secure sale proceeds were not ensured. The acquittal was found perverse and legally unsustainable, so interference was justified and the accused were convicted. en-us Mon, 13 Jan 2020 00:00:00 +0530 Wed, 15 Apr 2020 12:36:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394510 Where an accused had already received an opportunity in the adjudicatory process, absence of a fresh opportunity notice under the Foreign Exchange Regulation Act did not vitiate prosecution. The record also showed no reliable proof that prior permission or extension of time had been obtained from the Reserve Bank of India for realisation of export proceeds, and the statutory requirement remained unfulfilled. A-4 to A-6 were held responsible where their export quotas were used, the declarations were jointly signed, and reasonable steps to secure sale proceeds were not ensured. The acquittal was found perverse and legally unsustainable, so interference was justified and the accused were convicted. Case-Laws FEMA Mon, 13 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394510