MoF notifies new rules for compounding under FEMA
Payment of the amount compounded will be done electronically and within 15 days from the date of compounding order.
foreign exchange
Delhi High Court quashes proceedings under S. 56 FERA for violation of principles of natural justice
It is for violation of Section 18(2) and Section 18(3) of the FERA that would entail action under Section 56 FERA, but the intervening threshold of issuance of show cause notice/opportunity notice and hearing the notice before passing the decision upon such mandatory application of principles of natural justice alone that the action under Section 56 could, at all, have been initiated.
Karnataka High Court rejects Xiaomi Technology’s challenge to the constitutional validity of S. 37-A of FEMA
While Xiaomi’s petition was held to be maintainable on the fulcrum of Article 14, however, the impugned provision as per the High Court did not manifest any arbitrariness.
Khaitan & Co. acted as legal counsel to Citigroup Global Markets India Pvt. Ltd. in relation to block trade of equity shares of Kalyan Jewellers India Ltd.
DEAL DETAILS Citigroup Global Markets India Private Limited | Block trade of equity shares of Kalyan Jewellers India Limited by Highdell Investment
If lessee is not actual owner of property, can actual rental expenses be claimed on return of income? ITAT decides
Income Tax Appellate Tribunal, Bangalore Benches (ITAT): The Bench of Chandra Poojari, AM and George George K, JM while partly allowing an
Interest on advance payment must not exceed 100 basis point above LIBOR rate
On September 08, 2021, the Reserve Bank of India has notified the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations,
Can foreigners transfer/dispose of immovable property situated in India by sale or mortgage without RBI’s prior permission? SC explains the true import of Section 31 of FERA, 1973
“Merely because no provision in the Act makes the transaction void or says that no title in the property passes to the purchaser in case there is contravention of the provisions of Section 31, will be of no avail. That does not validate the transfer referred to in Section 31, which is not backed by “previous” permission of the RBI.”
Trading beyond onshore market hours in foreign exchange permitted — RBI
Risk Management and Inter-bank Dealings- Permitting AD Cat-I banks to voluntarily undertake user and Inter-Bank transactions beyond onshore market hours As announced