https://www.taxtmi.com/caselaws?id=795484 Confiscation of securities for a FEMA contravention under Section 13(2) is discretionary, not mandatory. The provision uses "may" and "if he thinks fit", allowing the Adjudicating Authority to order confiscation in addition to penalties only after exercising judicial discretion. The notes state that penalties were imposed for unauthorised share transfers and that the authority had considered the material; no non-application of mind, improper exercise of discretion, or miscarriage of justice was established. Accordingly, declining confiscation while imposing penalties was treated as justified. en-us Thu, 09 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795484 Confiscation of securities for a FEMA contravention under Section 13(2) is discretionary, not mandatory. The provision uses "may" and "if he thinks fit", allowing the Adjudicating Authority to order confiscation in addition to penalties only after exercising judicial discretion. The notes state that penalties were imposed for unauthorised share transfers and that the authority had considered the material; no non-application of mind, improper exercise of discretion, or miscarriage of justice was established. Accordingly, declining confiscation while imposing penalties was treated as justified. Case-Laws FEMA Thu, 09 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795484