https://www.taxtmi.com/highlights?id=79240 Clerk working with company during import of machinery not instrumental in conducting business or responsible for contravention. Director inducted later not liable for past acts when no manufacturing activity. Mere designation insufficient for vicarious liability under FERA, averment of being in-charge and responsible for business conduct at relevant time required as per precedent. Appeal allowed, impugned order set aside, pre-deposit to be returned with interest, bank guarantee discharged. en-us Tue, 09 Jul 2024 07:51:59 +0530 Tue, 09 Jul 2024 07:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79240 Clerk working with company during import of machinery not instrumental in conducting business or responsible for contravention. Director inducted later not liable for past acts when no manufacturing activity. Mere designation insufficient for vicarious liability under FERA, averment of being in-charge and responsible for business conduct at relevant time required as per precedent. Appeal allowed, impugned order set aside, pre-deposit to be returned with interest, bank guarantee discharged. Highlights FEMA Tue, 09 Jul 2024 07:51:59 +0530 https://www.taxtmi.com/highlights?id=79240