https://www.taxtmi.com/caselaws?id=424202 Where a court has directed return of confiscated foreign exchange, the enforcing authority cannot substitute that obligation with payment in Indian rupees unless the order or governing law authorises such conversion. The Court therefore treated the return direction as controlling, but accepted rupee payment at the prevailing exchange rate to resolve the dispute, and maintained the earlier 10% interest term because no legal basis existed to vary it. The modification request was rejected in substance, and the original return direction remained operative with rupee conversion and the same interest. en-us Tue, 14 Jun 2022 00:00:00 +0530 Fri, 24 Jun 2022 08:13:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424202 Where a court has directed return of confiscated foreign exchange, the enforcing authority cannot substitute that obligation with payment in Indian rupees unless the order or governing law authorises such conversion. The Court therefore treated the return direction as controlling, but accepted rupee payment at the prevailing exchange rate to resolve the dispute, and maintained the earlier 10% interest term because no legal basis existed to vary it. The modification request was rejected in substance, and the original return direction remained operative with rupee conversion and the same interest. Case-Laws FEMA Tue, 14 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424202