2025 (11) TMI 381

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....Advocates. For the Respondent Nos. 2 and 3: Ms. Manisha Jagtap, Advocate. P. C. 1. The above Writ Petition is filed seeking to quash and set aside the impugned order dated 8th September 2025 passed by Respondent No. 2 [The Special Director (Adjudication), Directorate of Enforcement]. By the impugned order, a penalty of Rs.50 Crores has been imposed on each of the Petitioners who are the D....

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....y to overseas investors in alleged contravention of paragraph 9(1)(B) of Schedule-1 of Regulation (5)(1) of the Regulations of 2000, read with Section 6(3)(b) of the FEMA Act. 2. The main grounds of challenge are that (i) the show cause notice issued to the Petitioners was as far back as on 9th July 2013 and the same has been adjudicated only in September 2025. It is the case of the Petitioner ....

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....tition. 4. Acceding to her request, we direct that the affidavit-in-reply shall be filed on or before 14th November 2025 and a copy of the same shall be served on the advocates for the Petitioner. 5. If the Petitioners want to file any affidavit-in-rejoinder, they are free to do so, on or before 21st November 2025 and serve a copy of the same on the advocates for the Enforcement Directorate.....

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....ioners. 7. For all these reasons, we are of the opinion that the Petitioners have made out a strong prima facie case for grant of ad-interim relief. We accordingly direct that there shall be ad-interim relief in terms of prayer clause (b) which reads thus:- "(b) that pending the hearing and final disposal of the present writ petition, this Hon'ble Court be pleased to restrain the Respo....