https://www.taxtmi.com/caselaws?id=397087 The court granted the petitioner permission to remit USD 54.99 Million by 31st July 2020 to meet debt obligations and avoid default, emphasizing that the rejection by the respondent lacked detailed reasoning and should not solely follow Enforcement Directorate's directions. The court reiterated its interim directions from a previous order and imposed specific conditions on the petitioner, including providing an undertaking from the Board of Directors and ensuring unencumbered assets worth 60 million USD or above. Further arguments were scheduled for 28.08.2020. en-us Fri, 24 Jul 2020 00:00:00 +0530 Mon, 03 Aug 2020 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397087 The court granted the petitioner permission to remit USD 54.99 Million by 31st July 2020 to meet debt obligations and avoid default, emphasizing that the rejection by the respondent lacked detailed reasoning and should not solely follow Enforcement Directorate's directions. The court reiterated its interim directions from a previous order and imposed specific conditions on the petitioner, including providing an undertaking from the Board of Directors and ensuring unencumbered assets worth 60 million USD or above. Further arguments were scheduled for 28.08.2020. Case-Laws FEMA Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397087