https://www.taxtmi.com/caselaws?id=459551 Section 49 of FEMA, 1999 preserves proceedings under the repealed foreign exchange law and deems prior acts, notifications and appointments to continue under the corresponding provisions of the new Act, unless inconsistent with it. On that basis, the appointment of the Adjudicating Officer was upheld because the show-cause notice had been issued within time and the challenge to the appointment could not be sustained. The court also noted that the finding on financial capacity was factual, supported by the record, and no perversity was shown to warrant interference; the order dismissing the writ petition was therefore maintained. en-us Tue, 12 Dec 2006 00:00:00 +0530 Wed, 18 Dec 2024 11:54:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459551 Section 49 of FEMA, 1999 preserves proceedings under the repealed foreign exchange law and deems prior acts, notifications and appointments to continue under the corresponding provisions of the new Act, unless inconsistent with it. On that basis, the appointment of the Adjudicating Officer was upheld because the show-cause notice had been issued within time and the challenge to the appointment could not be sustained. The court also noted that the finding on financial capacity was factual, supported by the record, and no perversity was shown to warrant interference; the order dismissing the writ petition was therefore maintained. Case-Laws FEMA Tue, 12 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459551