Alternate Remedies for FEMA Section 4 Violations: Competent Authority to Decide u/s 37-A(3) Without Judicial Interference.

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....Offence under FEMA - Scope of alternate remedy - violation of Section 4 of FEMA - examining sufficiency of reason or otherwise under Article 226 of the Constitution of India would prejudice the case of either of the parties. It is best left to the Competent Authority to examine the same when it considers the entire issue under sub-Section (3) of Section 37-A of FEMA. - HC....