https://www.taxtmi.com/caselaws?id=302586 Criminal prosecution for alleged failure to realise and repatriate export proceeds under foreign exchange law was found unsustainable where the export documents had been regularised, the Reserve Bank of India had approved the write-off and extension of time, and the adjudicating authority had already exonerated the accused. Those facts displaced the statutory presumption of non-compliance, since reasonable steps to realise the proceeds had been shown and the legal foundation of the allegation no longer survived. Continuation of the criminal case was therefore treated as an abuse of process and liable to be quashed. en-us Fri, 07 May 2010 00:00:00 +0530 Tue, 07 Jun 2022 10:43:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302586 Criminal prosecution for alleged failure to realise and repatriate export proceeds under foreign exchange law was found unsustainable where the export documents had been regularised, the Reserve Bank of India had approved the write-off and extension of time, and the adjudicating authority had already exonerated the accused. Those facts displaced the statutory presumption of non-compliance, since reasonable steps to realise the proceeds had been shown and the legal foundation of the allegation no longer survived. Continuation of the criminal case was therefore treated as an abuse of process and liable to be quashed. Case-Laws Indian Laws Fri, 07 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302586