https://www.taxtmi.com/caselaws?id=789367 Prolonged non-realisation of export proceeds without proof of effective recovery steps, sanctioned extension, or pursuit of foreign remedies was treated as contravention of the export realisation framework under FEMA and the Export Regulations, and the finding was sustained against the responsible appellants. Failure to ship goods against advance payments within one year also constituted contravention because the shipment obligation remained primary and the refund proviso did not dilute it. Under the company liability provision, directors in charge of and responsible for the business were liable unless they proved lack of knowledge or due diligence; liability was upheld for the directors shown to be involved, while the appellant who was not shown to participate in day-to-day affairs was excluded. en-us Thu, 02 Apr 2026 00:00:00 +0530 Wed, 08 Apr 2026 08:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789367 Prolonged non-realisation of export proceeds without proof of effective recovery steps, sanctioned extension, or pursuit of foreign remedies was treated as contravention of the export realisation framework under FEMA and the Export Regulations, and the finding was sustained against the responsible appellants. Failure to ship goods against advance payments within one year also constituted contravention because the shipment obligation remained primary and the refund proviso did not dilute it. Under the company liability provision, directors in charge of and responsible for the business were liable unless they proved lack of knowledge or due diligence; liability was upheld for the directors shown to be involved, while the appellant who was not shown to participate in day-to-day affairs was excluded. Case-Laws FEMA Thu, 02 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789367