https://www.taxtmi.com/caselaws?id=397087 Under the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004, Reserve Bank approval for outward remittance must be based on an independent assessment of relevant material and cannot be mechanically declined on the basis of Enforcement Directorate objections alone. A non-speaking refusal without reasons was treated as unsustainable, particularly where earlier permissions had been granted despite ongoing investigations and no clear change in circumstances was shown. The permission sought for remittance was therefore allowed with conditions. 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 Under the Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004, Reserve Bank approval for outward remittance must be based on an independent assessment of relevant material and cannot be mechanically declined on the basis of Enforcement Directorate objections alone. A non-speaking refusal without reasons was treated as unsustainable, particularly where earlier permissions had been granted despite ongoing investigations and no clear change in circumstances was shown. The permission sought for remittance was therefore allowed with conditions. Case-Laws FEMA Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397087