https://www.taxtmi.com/caselaws?id=791177 Recorded statements and surrounding material were treated as sufficient to establish contravention of FEMA where the managing director's statements were confirmed before the enforcement authority and supported by invoice and payment evidence showing differential value remittances through agents. The standard applied in adjudication was preponderance of probabilities, not criminal proof, so clandestine foreign exchange violations could be proved on that basis. Earlier customs settlement proceedings did not bar FEMA action because they addressed a different wrong, and the retraction was rejected for want of cogent proof of coercion and because the statements were independently corroborated. The penalties were reduced on proportionality grounds, while the finding of contravention was upheld. en-us Thu, 23 Apr 2026 00:00:00 +0530 Thu, 07 May 2026 07:07:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791177 Recorded statements and surrounding material were treated as sufficient to establish contravention of FEMA where the managing director's statements were confirmed before the enforcement authority and supported by invoice and payment evidence showing differential value remittances through agents. The standard applied in adjudication was preponderance of probabilities, not criminal proof, so clandestine foreign exchange violations could be proved on that basis. Earlier customs settlement proceedings did not bar FEMA action because they addressed a different wrong, and the retraction was rejected for want of cogent proof of coercion and because the statements were independently corroborated. The penalties were reduced on proportionality grounds, while the finding of contravention was upheld. Case-Laws FEMA Thu, 23 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791177