https://www.taxtmi.com/caselaws?id=753952 The Appellate Tribunal under SAFEMA upheld penalties imposed on an exporter company and its director for FERA violations. The company diverted cargo meant for Russia to Dubai, violating export credit scheme conditions. Despite claims of shipping company forgery, the Tribunal found all parties complicit based on authentic documentation and lack of legal action against alleged forgers. The company's inability to produce export documents and the commercial illogic of diversion to Dubai (resulting in lower freight charges) supported culpability findings. The Tribunal confirmed penalties of Rs. 20,00,000 on the company and Rs. 5,00,000 on the director under FERA provisions. en-us Tue, 14 May 2024 00:00:00 +0530 Thu, 13 Jun 2024 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753952 The Appellate Tribunal under SAFEMA upheld penalties imposed on an exporter company and its director for FERA violations. The company diverted cargo meant for Russia to Dubai, violating export credit scheme conditions. Despite claims of shipping company forgery, the Tribunal found all parties complicit based on authentic documentation and lack of legal action against alleged forgers. The company's inability to produce export documents and the commercial illogic of diversion to Dubai (resulting in lower freight charges) supported culpability findings. The Tribunal confirmed penalties of Rs. 20,00,000 on the company and Rs. 5,00,000 on the director under FERA provisions. Case-Laws FEMA Tue, 14 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753952