https://www.taxtmi.com/caselaws?id=787400 Strike off of a company under the Companies Act, 2013 does not extinguish subsisting FEMA liability, and enforcement may continue against persons legally answerable, including legal representatives where the statutory scheme permits continuation after death. FEMA penalty is a civil consequence for contravention and does not require proof of mens rea unless the statute provides otherwise; however, the quantum must remain proportionate to the nature and gravity of the breach. On that basis, the underlying liability was maintained while the individual penalties were reduced to the amount already deposited. 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 Strike off of a company under the Companies Act, 2013 does not extinguish subsisting FEMA liability, and enforcement may continue against persons legally answerable, including legal representatives where the statutory scheme permits continuation after death. FEMA penalty is a civil consequence for contravention and does not require proof of mens rea unless the statute provides otherwise; however, the quantum must remain proportionate to the nature and gravity of the breach. On that basis, the underlying liability was maintained while the individual penalties were reduced to the amount already deposited. Case-Laws FEMA Thu, 29 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787400