https://www.taxtmi.com/caselaws?id=788167 Civil penalties for contravention of statutory obligations under FEMA do not require proof of mens rea. A company's chief financial officer was found to have actively participated in the relevant transactions and admitted that involvement in statements recorded under FEMA. As the company's contraventions were established, liability for penalty was sustained under the provision governing penalties for company-related contraventions. However, proportionality warranted a reduction in the penalty, and the pre-deposit was directed to be adjusted against the reduced liability. The appeal was partly allowed to that extent. en-us Thu, 12 Mar 2026 00:00:00 +0530 Wed, 18 Mar 2026 08:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788167 Civil penalties for contravention of statutory obligations under FEMA do not require proof of mens rea. A company's chief financial officer was found to have actively participated in the relevant transactions and admitted that involvement in statements recorded under FEMA. As the company's contraventions were established, liability for penalty was sustained under the provision governing penalties for company-related contraventions. However, proportionality warranted a reduction in the penalty, and the pre-deposit was directed to be adjusted against the reduced liability. The appeal was partly allowed to that extent. Case-Laws FEMA Thu, 12 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788167