https://www.taxtmi.com/caselaws?id=795484 Confiscation of securities for a FEMA contravention under Section 13(2) is discretionary, not mandatory. The expressions "may" and "if he thinks fit" permit the Adjudicating Authority to order confiscation in addition to penalties only after exercising judicial discretion. Where penalties were imposed for unauthorised share transfers and the authority evaluated the relevant material, confiscation need not follow unless non-application of mind, improper exercise of discretion, or miscarriage of justice is established. The discretionary decision not to confiscate securities was therefore upheld. 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 expressions "may" and "if he thinks fit" permit the Adjudicating Authority to order confiscation in addition to penalties only after exercising judicial discretion. Where penalties were imposed for unauthorised share transfers and the authority evaluated the relevant material, confiscation need not follow unless non-application of mind, improper exercise of discretion, or miscarriage of justice is established. The discretionary decision not to confiscate securities was therefore upheld. Case-Laws FEMA Thu, 09 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795484