https://www.taxtmi.com/article/detailed?id=13139 Failure to realize and repatriate export proceeds within Reserve Bank specified periods or under prescribed terms triggers liability: directors responsible for company conduct are deemed guilty of contraventions unless they demonstrate lack of knowledge or that they exercised due diligence to prevent the breach. The penalty regime permits monetary penalties tied to the sum involved or capped where unquantifiable, daily penalties for continuing breaches, and allows referral for prosecution after reasons are recorded; enforcement emphasizes documentary proof of reasonable recovery efforts and regulatory liaison. en-us Sat, 23 Nov 2024 14:01:02 +0530 Sat, 23 Nov 2024 14:01:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13139 Failure to realize and repatriate export proceeds within Reserve Bank specified periods or under prescribed terms triggers liability: directors responsible for company conduct are deemed guilty of contraventions unless they demonstrate lack of knowledge or that they exercised due diligence to prevent the breach. The penalty regime permits monetary penalties tied to the sum involved or capped where unquantifiable, daily penalties for continuing breaches, and allows referral for prosecution after reasons are recorded; enforcement emphasizes documentary proof of reasonable recovery efforts and regulatory liaison. Articles FEMA - Foreign Exchange Management Sat, 23 Nov 2024 14:01:02 +0530 https://www.taxtmi.com/article/detailed?id=13139