https://www.taxtmi.com/article/detailed?id=14165 Section 7 requires exporters to furnish declarations and information to the RBI to disclose export value and enable realisation; Section 8 and Regulation 9 require that foreign exchange from exports be realised and repatriated to India within the period specified by the RBI and that exporters take all reasonable steps to do so. Section 13 prescribes penalties for contraventions after adjudication. In the cited firm matter, former partners were found responsible for failure to take effective recovery steps for proceeds unrepatriated within the statutory period, and the adjudicator's quantified penalty was reviewed and reduced with an adjustment of a prior deposit. en-us Sat, 19 Apr 2025 08:37:48 +0530 Sat, 19 Apr 2025 08:37:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14165 Section 7 requires exporters to furnish declarations and information to the RBI to disclose export value and enable realisation; Section 8 and Regulation 9 require that foreign exchange from exports be realised and repatriated to India within the period specified by the RBI and that exporters take all reasonable steps to do so. Section 13 prescribes penalties for contraventions after adjudication. In the cited firm matter, former partners were found responsible for failure to take effective recovery steps for proceeds unrepatriated within the statutory period, and the adjudicator's quantified penalty was reviewed and reduced with an adjustment of a prior deposit. Articles FEMA - Foreign Exchange Management Sat, 19 Apr 2025 08:37:48 +0530 https://www.taxtmi.com/article/detailed?id=14165