https://www.taxtmi.com/caselaws?id=794771 Delayed reporting of foreign direct investment remittances, delayed allotment of shares beyond 180 days, and non-filing of FC-GPR were held to constitute established FEMA contraventions against the company and its directors. The Tribunal relied on the timing of the remittances, the belated share allotment, and recorded statements linking the directors to the compliance-related affairs. It further held that a later RBI circular on delayed filing could not be applied to earlier transactions and that the civil nature of FEMA violations meant absence of mens rea did not bar penalty. On the facts, however, the penalties were reduced as proportionate relief. en-us Thu, 02 Jul 2026 00:00:00 +0530 Sat, 11 Jul 2026 08:46:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794771 Delayed reporting of foreign direct investment remittances, delayed allotment of shares beyond 180 days, and non-filing of FC-GPR were held to constitute established FEMA contraventions against the company and its directors. The Tribunal relied on the timing of the remittances, the belated share allotment, and recorded statements linking the directors to the compliance-related affairs. It further held that a later RBI circular on delayed filing could not be applied to earlier transactions and that the civil nature of FEMA violations meant absence of mens rea did not bar penalty. On the facts, however, the penalties were reduced as proportionate relief. Case-Laws FEMA Thu, 02 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794771