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Show Cause Notice under FERA cannot be issued post-June 1, 2002, due to FEMA 1999 prohibition; appeal allowed.

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Full Text of the Document

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....Once the issue of SCN of the offence completed in FERA regime no SCN can be issued after 1.6.2002 under FEMA,1999 because of the statutory bar under FEMA, 1999.Accordingly, in the light of the above, the appeal is allowed.....