https://www.taxtmi.com/caselaws?id=405966 The Delhi High Court held jurisdiction to entertain the writ petition challenging RBI's order under FEMA ODI Regulations. The court dismissed the appeal, quashing RBI's order dated 30.12.2019, emphasizing the need for RBI's decisions to be reasonable and aligned with FEMA's objectives. The court found RBI's reasons for rejection arbitrary and whimsical, not serving FEMA's purpose, and rejected the necessity of ED as a party in the proceedings. The court highlighted that ED's objections should not unduly influence RBI's decisions under Regulation 9(3) of FEMA ODI Regulations. en-us Fri, 26 Mar 2021 00:00:00 +0530 Fri, 02 Apr 2021 09:15:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405966 The Delhi High Court held jurisdiction to entertain the writ petition challenging RBI's order under FEMA ODI Regulations. The court dismissed the appeal, quashing RBI's order dated 30.12.2019, emphasizing the need for RBI's decisions to be reasonable and aligned with FEMA's objectives. The court found RBI's reasons for rejection arbitrary and whimsical, not serving FEMA's purpose, and rejected the necessity of ED as a party in the proceedings. The court highlighted that ED's objections should not unduly influence RBI's decisions under Regulation 9(3) of FEMA ODI Regulations. Case-Laws FEMA Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405966