https://www.taxtmi.com/caselaws?id=799191 Section 13(1) of FEMA imposes civil regulatory penalties once a contravention is established and does not require proof of wilful conduct, intention, or mens rea. For conduct occurring before its omission took effect, section 6(3)(b) continued to govern foreign remittances and foreign investment. Non-compliance includes delayed receipt and share-allotment reporting, allotment of shares to an entity other than the remitter, and deployment of remittances in a restricted real-estate sector. Administrative difficulty, eventual regularisation, and absence of loss do not negate established contraventions. Section 13(2) permits discretionary confiscation alongside monetary penalty. Director liability depends on responsibility for company business, knowledge, and due diligence. en-us Thu, 10 Sep 2026 00:00:00 +0530 Fri, 18 Sep 2026 07:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799191 Section 13(1) of FEMA imposes civil regulatory penalties once a contravention is established and does not require proof of wilful conduct, intention, or mens rea. For conduct occurring before its omission took effect, section 6(3)(b) continued to govern foreign remittances and foreign investment. Non-compliance includes delayed receipt and share-allotment reporting, allotment of shares to an entity other than the remitter, and deployment of remittances in a restricted real-estate sector. Administrative difficulty, eventual regularisation, and absence of loss do not negate established contraventions. Section 13(2) permits discretionary confiscation alongside monetary penalty. Director liability depends on responsibility for company business, knowledge, and due diligence. Case-Laws FEMA Thu, 10 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799191