https://www.taxtmi.com/caselaws?id=787400 Sections 248(6) and 250 of the Companies Act preserve a struck-off company's liabilities and permit realisation and enforcement of amounts due, so penalties imposed on the company continue to subsist. Under the FEMA framework the adjudicating authority proceeded under the statute to attach liability to the deceased director's legal representatives, with liability confined to the estate; the Tribunal found partial merit in the representatives' challenge. Civil penalties under FEMA do not require mens rea, but the Tribunal applied proportionality and mitigation principles to reduce individual penalties. en-us Thu, 29 Jan 2026 00:00:00 +0530 Thu, 05 Mar 2026 08:41:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787400 Sections 248(6) and 250 of the Companies Act preserve a struck-off company's liabilities and permit realisation and enforcement of amounts due, so penalties imposed on the company continue to subsist. Under the FEMA framework the adjudicating authority proceeded under the statute to attach liability to the deceased director's legal representatives, with liability confined to the estate; the Tribunal found partial merit in the representatives' challenge. Civil penalties under FEMA do not require mens rea, but the Tribunal applied proportionality and mitigation principles to reduce individual penalties. Case-Laws FEMA Thu, 29 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787400