https://www.taxtmi.com/caselaws?id=289031 A statutory permission under exchange-control law may be challenged in writ jurisdiction where the validity of a condition raises questions the authority itself cannot effectively decide. A condition restricting share sales to larger industrial houses was held to lack a direct and proximate nexus with the Foreign Exchange Regulation Act's object of conserving and regulating foreign exchange, because it pursued a different policy concern. The expression used for the prohibited class was not treated as vague on the facts. The invalid restriction was also severable, so the remaining permission conditions could stand. en-us Wed, 05 Oct 1977 00:00:00 +0530 Fri, 09 Sep 2022 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289031 A statutory permission under exchange-control law may be challenged in writ jurisdiction where the validity of a condition raises questions the authority itself cannot effectively decide. A condition restricting share sales to larger industrial houses was held to lack a direct and proximate nexus with the Foreign Exchange Regulation Act's object of conserving and regulating foreign exchange, because it pursued a different policy concern. The expression used for the prohibited class was not treated as vague on the facts. The invalid restriction was also severable, so the remaining permission conditions could stand. Case-Laws FEMA Wed, 05 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289031