2026 (7) TMI 659

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....ore this Court being aggrieved by issuance of show cause notice by respondent No.2 on 11.09.2023, produced at Annexure-A, as well as initiation of proceedings by respondent No.3 under Section 16(3) of the Foreign Exchange Management Act, 1999 (hereinafter referred to as 'the FEMA, 1999'), in complaint bearing No.T-3/MGSZO/04/2022 by the respondent No.3 is before this Court seeking following reliefs: ''a. Issue a Writ of Certiorari or such other writ as deemed fit by this Hon'ble Court quashing the impugned Show Notice issued by Respondent No. 2 bearing No.F.No.T-4/BGZO/05/2023/1854 dated 11.09.2023 vide Annexure A as it is arbitrary and illegal. b. Issue a Writ of Certiorari or such other writ as deemed....

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....ming into force of said amended provision of Section 37-A of the FEMA, 1999. 3. He further submits that taking note of this aspect of the matter, the Co-ordinate Bench of this Court after hearing the learned counsel for the petitioner as well as the respondents in the said writ petition, by Order dated 16.01.2023 directed the parties to maintain status-quo as on the said date and the said interim order of status-quo has been extended from time to time. He further submits to circumvent the consequences of the said interim order of status-quo, prohibiting the respondent-Authorities to proceed further, the respondent No.2 has adopted the rule of issuing the show-cause notice dated 11.09.2023 as per Annexure-A and respondent No.3 filing of t....