https://www.taxtmi.com/caselaws?id=397082 The court directed the respondent to permit the petitioner to transmit USD 300 million to its subsidiary promptly, emphasizing the urgency to prevent defaults on guarantees and credit rating downgrades. The court found merit in the petitioner's arguments, considering past permissions granted by RBI and the absence of recent investigations impacting financial commitments. The respondent was given time to file a counter affidavit, and the case was listed for further hearing, with specific undertakings required from the petitioner regarding fund deposits and asset maintenance. en-us Fri, 19 Jun 2020 00:00:00 +0530 Mon, 03 Aug 2020 14:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397082 The court directed the respondent to permit the petitioner to transmit USD 300 million to its subsidiary promptly, emphasizing the urgency to prevent defaults on guarantees and credit rating downgrades. The court found merit in the petitioner's arguments, considering past permissions granted by RBI and the absence of recent investigations impacting financial commitments. The respondent was given time to file a counter affidavit, and the case was listed for further hearing, with specific undertakings required from the petitioner regarding fund deposits and asset maintenance. Case-Laws FEMA Fri, 19 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397082