https://www.taxtmi.com/caselaws?id=759692 The Appellate Tribunal under SAFEMA set aside an order regarding alleged FEMA contraventions for unauthorized direct investment outside India. The case involved investment in an overseas joint venture through purchase of existing shares on deferred payment basis. The Tribunal found that the adjudicating authority failed to consider the third mode of direct investment under FEMA regulations and did not adequately examine whether the investment qualified under the automatic route, negating need for RBI permission. The matter was remanded for fresh adjudication with proper consideration of relevant legal provisions and reasoned decision-making. en-us Tue, 10 Sep 2024 00:00:00 +0530 Sat, 05 Oct 2024 12:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759692 The Appellate Tribunal under SAFEMA set aside an order regarding alleged FEMA contraventions for unauthorized direct investment outside India. The case involved investment in an overseas joint venture through purchase of existing shares on deferred payment basis. The Tribunal found that the adjudicating authority failed to consider the third mode of direct investment under FEMA regulations and did not adequately examine whether the investment qualified under the automatic route, negating need for RBI permission. The matter was remanded for fresh adjudication with proper consideration of relevant legal provisions and reasoned decision-making. Case-Laws FEMA Tue, 10 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759692