https://www.taxtmi.com/highlights?id=97390 Even after a company is struck off and deemed dissolved, its liabilities and penalties continue to be enforceable and assets must suffice to discharge obligations; penalties imposed on the struck off entity therefore subsist. Adjudication against legal representatives may continue under the applicable liability provision, limited to the estate. Penalties under Section 13(1) of FEMA are civil in nature and attract on proof of contravention without requiring mens rea. Applying proportionality, individual penalties were moderated and pre-deposit adjustments directed. en-us Thu, 05 Mar 2026 08:41:17 +0530 Thu, 05 Mar 2026 08:41:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97390 Even after a company is struck off and deemed dissolved, its liabilities and penalties continue to be enforceable and assets must suffice to discharge obligations; penalties imposed on the struck off entity therefore subsist. Adjudication against legal representatives may continue under the applicable liability provision, limited to the estate. Penalties under Section 13(1) of FEMA are civil in nature and attract on proof of contravention without requiring mens rea. Applying proportionality, individual penalties were moderated and pre-deposit adjustments directed. Highlights FEMA Thu, 05 Mar 2026 08:41:17 +0530 https://www.taxtmi.com/highlights?id=97390