https://www.taxtmi.com/caselaws?id=408050 Rule 4(3) of the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000 requires the Adjudicating Authority to form a reasoned, mindful opinion after considering the noticee's reply on whether an inquiry should proceed. The requirement of reasons supports fairness, transparency, and restraint against arbitrariness in a quasi-judicial function, though the reasons need not be elaborate. On the facts, the file noting referred to the complaint, a Supreme Court judgment, and the reply, but did not expressly connect the material to the decision to proceed. Even so, the court declined to interfere under Article 226 in the circumstances and allowed the inquiry to continue. en-us Tue, 25 May 2021 00:00:00 +0530 Sat, 29 May 2021 08:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408050 Rule 4(3) of the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000 requires the Adjudicating Authority to form a reasoned, mindful opinion after considering the noticee's reply on whether an inquiry should proceed. The requirement of reasons supports fairness, transparency, and restraint against arbitrariness in a quasi-judicial function, though the reasons need not be elaborate. On the facts, the file noting referred to the complaint, a Supreme Court judgment, and the reply, but did not expressly connect the material to the decision to proceed. Even so, the court declined to interfere under Article 226 in the circumstances and allowed the inquiry to continue. Case-Laws FEMA Tue, 25 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408050