https://www.taxtmi.com/caselaws?id=308725 The Supreme Court overturned the High Court's decision to quash criminal proceedings in a case involving breach of undertaking under the Foreign Contribution (Regulation) Act, 1976. The Court held that deviating from the specified bank for receiving foreign contributions constituted a contravention of the Act, punishable under Section 23. Emphasizing the need for strict compliance to ensure effective regulation, the Supreme Court directed the Magistrate to proceed with the matter promptly, highlighting the importance of adhering to registration terms under the Act. en-us Mon, 26 Mar 2001 00:00:00 +0530 Sat, 15 Jul 2023 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308725 The Supreme Court overturned the High Court's decision to quash criminal proceedings in a case involving breach of undertaking under the Foreign Contribution (Regulation) Act, 1976. The Court held that deviating from the specified bank for receiving foreign contributions constituted a contravention of the Act, punishable under Section 23. Emphasizing the need for strict compliance to ensure effective regulation, the Supreme Court directed the Magistrate to proceed with the matter promptly, highlighting the importance of adhering to registration terms under the Act. Case-Laws FEMA Mon, 26 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308725