https://www.taxtmi.com/caselaws?id=791178 An authorised person under FEMA remains amenable to adjudication and penalty for dealings with unauthorised persons and failure to comply with regulatory safeguards, including KYC and due diligence requirements, and the general penalty provision is not excluded by Chapter III. The Tribunal also held that delay and denial of cross-examination do not vitiate adjudication absent demonstrated prejudice where relied-upon material was disclosed and hearings were granted. However, vicarious liability under section 42(1) cannot be imposed on an individual unless responsibility for the relevant transactions during the material period is shown, and de facto declarant liability under section 10(6) cannot be stretched beyond the actual declarant. The company's penalty was sustained on the facts. en-us Thu, 30 Apr 2026 00:00:00 +0530 Thu, 07 May 2026 07:07:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791178 An authorised person under FEMA remains amenable to adjudication and penalty for dealings with unauthorised persons and failure to comply with regulatory safeguards, including KYC and due diligence requirements, and the general penalty provision is not excluded by Chapter III. The Tribunal also held that delay and denial of cross-examination do not vitiate adjudication absent demonstrated prejudice where relied-upon material was disclosed and hearings were granted. However, vicarious liability under section 42(1) cannot be imposed on an individual unless responsibility for the relevant transactions during the material period is shown, and de facto declarant liability under section 10(6) cannot be stretched beyond the actual declarant. The company's penalty was sustained on the facts. Case-Laws FEMA Thu, 30 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791178