FEMA / PMLA Compliance - ED / RBI Affairs Consultant - Ozg Lawyers

5% TDS Limit on LRS -

📱8779696580
✉️ [email protected]

WeF. 1st Oct 2020, 5% is applicable on any amount above ₹700000 remitted abroad.

E.g. if the facility availed under of is ₹10 Lakh, a TDS @ 5% will be applicable on ₹3 lakh so tax will be ₹15000.



🏡 facebook.com/femaconsultant

FEMA Consultant - Ozg Lawyers FEMA Consultant - Ozg Lawyers - Simply a Click Away || 24hrs Support || Cost Effective Services || E

The Liberalised Remittance Scheme is an RBI measure that allows Indian residents to send up to USD250,000 per financial year (April to March) outside India. These funds can be used for any permissible current or capital account transaction, or a combination of both.

Who is eligible to remit funds outside India under the LRS?

The LRS is for people who are residents of India as defined by the Foreign Exchange Management Act (FEMA), 1999. It cannot be used by corporations, partnership firms, Hindu Undivided Family (HUF), trusts, etc.

What are the permissible current account transactions under the LRS?

The following are permissible current account transactions under the LRS:

🚩 Private visit (other than Nepal & Bhutan)

🚩 Gift or donation (including rupee gift) to a Non-Resident Indian (NRI) / Person of Indian Origin (PIO), who is a close relative

🚩 Emigration

🚩 Overseas business trip

🚩 Medical treatment abroad

🚩 Pursuing studies outside India

🚩 Going outside India for employment

🚩 Maintenance of close relatives abroad

FEMA Consultants | Ozg Lawyers | Email: [email protected]

Which capital account transactions are permissible under LRS?

The following are the permissible capital account transactions under LRS:

🚩 Opening a foreign currency account abroad with a bank outside India

🚩 Purchase of foreign property

🚩 Investments in overseas shares, securities, mutual funds, etc

🚩 Setting up wholly owned subsidiaries (WOS) or joint ventures (JV) abroad (subject to stipulated terms and conditions)

🚩 Extending INR loans to NRIs who are relatives as defined in the Companies Act.

What if I need to remit more than USD250,000?

You can remit more than the USD250,000 limit for emigration, medical treatment and overseas education, if it is required by the country of emigration, medical institute offering treatment or the university respectively, but this is subject to certain conditions. In other cases, you will need prior permission from the RBI

Directorate of Enforcement (ED) has attached assets worth ₹ 305.84 Crore of Joy Alukkas Verghese, Chairman of Joy Alukkas India Pvt Ltd under section 37A of FEMA, 1999 for violation of section 4 of FEMA, 1999. The case pertains to huge amount of cash transferred to Dubai from India through Hawala Channels and subsequently invested in Joy Alukkas Jewellery LLC, Dubai which is 100% owned company of Joy Alukkas Verghese. The attached assets include 33 immovable properties (value ₹ 81.54 Crore) consisting of Land and residential building in Shobha City, Thrissur , 03 Bank accounts (value ₹ 91.22 Lakh), 03 Fixed Deposits (value ₹ 5.58 Crore) and Shares of Joy Alukkas India Pvt Ltd (value ₹ 217.81 Crore). ED had earlier conducted searchs on 22.02.23 at 5 premises of Joy Alukkas group including the office of M/s Joy Alukkas India Pvt Ltd and residential premises of the Director of the company. The evidences were gathered during search from their official documents, mails and staffs which clearly proved active involvement of Mr Joy Alukkas in Hawala transactions. These amount were subsequently invested in Joy Alukkas Jewellery LLC, Dubai which is 100% owned company of Joy Alukkas Verghese, thus making him the beneficial owner of illegally transferred money and thus liable for action under Section 37A of FEMA, 1999. Further investigation is under progress.

Have you violated FEMA due to ignorance? Did you receive ED notice for FEMA violation?

Schedule your Tele-Appointment with to save your precious time and hard-earned money on unwanted legal costs for your / RBI and Enforcement Directorate related matters.

Learn more at Link ☎️ FEMA.ozg.in



Legal Advisory Email ☎️ [email protected]

✅ RBI introduced FCRA related transaction code in NEFT & RTGS Systems

Email: [email protected]
WhatsApp📱WA.ME/919811415831

On 16 Feb, RBI introduced FCRA related transaction code in NEFT and RTGS Systems under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007. The instructions will be effective from March 15, 2023.

Background -

1. Under the FCRA, 2010 (amended as on September 28, 2020), foreign contributions must be received only in the “FCRA bank account” of State Bank of India (SBI), New Delhi Main Branch (NDMB). The contributions to the FCRA account are received directly from foreign banks through SWIFT and from Indian intermediary banks through NEFT and RTGS systems.

2. In terms of extant requirements of Ministry of Home Affairs (MHA), Government of India, the donor details such as name, address, country of origin, amount, currency, and purpose of remittance are required to be captured in such transactions and SBI is required to report the same to MHA on daily basis.

3. Keeping in view the above, necessary changes have been introduced in NEFT and RTGS systems, technical details of which are provided in annex of this notification by RBI. Member banks are advised to incorporate necessary changes in their core banking /middleware solutions to capture the requisite details while forwarding the foreign donations through NEFT and RTGS systems to SBI.

📌 FCRA - *SBI Bank Account* for NGOs - Trust/Society/Foundation;

👩🏻‍💼 FCRA Registration & Renewal;

👩🏻‍💼 FCRA Rejected Cases Approval;

👨🏽‍💼 FCRA Compounding;

👁️‍🗨️ FCRA Projects/AML Guidance.

💗

FCRA Consultant
Ozg Lawyers

Email: [email protected]
WhatsApp📱WA.ME/919811415831

Please, count me in!

👁️‍🗨️ Only ₹192/Year

⌚If you ignore this, It will kill a specialized learning opportunity for you.

*Note:*

📌 1) You may not get personal reminder/confirmation about contribution/rules.

📌 2) Your first name will automatically appear in *membership list* in group and at 🇮🇳 rbicompliance.com in next week post payment of contribution.

📌 3) Group is educating you on specialized learning focused on Banking & Financial industry in non-conventional way for FREE.

📌 4) *Membership Details in your resume*: You can also write it in your resume, it will help you to find suitable assignments & engagements in Banking & Financial Sector across the world either at entry level or at central position.

💗 *Learn more at FAQ - RBI Compliance Group.*


👁️‍🗨️ *FEMA Matters*
*Email:* 📮 [email protected]

👁️‍🗨️ *NBFCs Compliance*
*Email:* 📮 [email protected]

👁️‍🗨️ *Banks Compliance*
*Email:* 📮 [email protected]

👨🏽‍💼
Prof. of RBI Affairs
* Community*

Only for 👩🏻‍💼👨🏽‍💼 CA/CS/Lawyer/Banker/Economist

👩🏻‍💼👁️‍🗨️ 1. What is the purpose of RBI Compliance Group?

As you can understand, RBI Compliance is a very specialized area of ​​legal practice. Here we have an open platform to connect with a maximum number of fellow professionals. The group helps its members to resolve queries on compliance filings and discuss the guidelines/directions issued by . We also share informative posts for easy learning as well as to promote earning opportunities for members through Program.

Group Admin,
rbicompliance.com

**************************************

💗 To join plz WhatsApp / DM

👩🏻‍💼 NRI having NRE/NRO bank accounts can now use UPI with foreign mobile numbers. To begin with, NPCI will be enabling transactions from mobile numbers having country codes of Singapore, Australia, Canada, Hong Kong, Oman, Qatar, USA, Saudi Arabia, United Arab Emirates, and the United Kingdom.

Learn more at nri.fema.in

Ozg Lawyers: FEMA Advisory

WhatsApp ☎️ WA.ME/918779696580
DM📱Instagram.com/femaconsultant

Follow 💗 DM

💬 Support
Ozgian 24/7

👨‍⚖️ Litigation
Ozg Lawyers

📂 RBI Compliance eFilings
Ozg Documentation Centre

🏦 AD Bank
Ozg Finance (NBFC: [email protected]) has service level association with 20+ top ranked banks.

**************************************

*RBI Payment Vision - 2025*

RBI's Payments Vision 2025 has been prepared by considering the guidance from the Board for Regulation and Supervision of Payment and Settlement Systems of the RBI. It builds on the initiatives of Payments Vision 2019-21.

*Goals to Achieve:*

📌 Volume of cheque-based payments to be less than 0.25% of the total retail payments.

📌 Tripling the number of digital payment transactions.

📌 UPI to register average annualised growth of 50% and IMPS / NEFT at 20%.

📌 Increase of payment transaction turnover vis-à-vis GDP to 8.

📌 Increase in debit card transactions at PoS (Point of Sale) by 20%.

📌 Debit card usage to surpass credit cards in terms of value.

📌 Increase in PPI transactions by 150%.

📌 Card acceptance infrastructure to increase to 250 lakh.

📌 Increase of registered customer base for mobile based transactions by 50% CAGR.

📌 Reduction in Cash in Circulation (CIC) as a percentage of GDP.

Read full post at ⬇

👩🏻‍💼

Go to 🏡 rbicompliance.com

------------------ --------------------- ---------------------
*Ozgian Community*
Join Seven Sisters Group:

To join, please share your screenshot of ₹192/year for 6 Groups ( , , , , , Compliance).

👩🏻‍💼 Scan QR code in DP.

📛⌚ Please, make add request via Ozgian Community only.

*RBI Payment Vision - 2025*

RBI's Payments Vision 2025 has been prepared by considering the guidance from the Board for Regulation and Supervision of Payment and Settlement Systems of the RBI. It builds on the initiatives of Payments Vision 2019-21.

*Goals to Achieve:*

📌 Volume of cheque-based payments to be less than 0.25% of the total retail payments.

📌 Tripling the number of digital payment transactions.

📌 UPI to register average annualised growth of 50% and IMPS / NEFT at 20%.

📌 Increase of payment transaction turnover vis-à-vis GDP to 8.

📌 Increase in debit card transactions at PoS (Point of Sale) by 20%.

📌 Debit card usage to surpass credit cards in terms of value.

📌 Increase in PPI transactions by 150%.

📌 Card acceptance infrastructure to increase to 250 lakh.

📌 Increase of registered customer base for mobile based transactions by 50% CAGR.

📌 Reduction in Cash in Circulation (CIC) as a percentage of GDP.

Read full post at ⬇

👩🏻‍💼

Go to 🏡 rbicompliance.com

------------------ --------------------- ---------------------
*Ozgian Community*
Join Seven Sisters Group:

To join, please share your screenshot of ₹192/year for 6 Groups ( , , , , , Compliance).

👩🏻‍💼 Scan QR code in DP.

📛⌚ Please, make add request via Ozgian Community only.

RBI Compliance Group | Forum for CA/CS/Lawyer/Banker/Economist Payments Vision 2025 has been prepared by considering the guidance from the Board for Regulation and Supervision of Payment and Settlement Systems of the RBI. It builds on the initiatives of Payments Vision 2019-21.

👩🏻‍💼👨🏽‍💼 If you are a practicing professional then you can also join to Ozg RBI Compliance Group having 4000+ registered members across the country. Fee: ₹192/Year.

Follow 💗 DM

💬 Support
Ozgian 24/7

👨‍⚖️ Litigation
Ozg Lawyers

📂 Filings
Ozg Documentation Centre

🏦 AD Bank
Ozg Finance (NBFC: [email protected]) has service level association with 20+ top ranked pvt banks.

**************************************

Only for 👩🏻‍💼👨🏽‍💼 CA/CS/Lawyer/Banker

💗 To join plz WhatsApp / DM

This is a list of NBFCs including RNBCs, to whom Certificate of Registration under Section 45 IA of RBI Act, 1934 have been issued by the Reserve Bank of India to hold/accept deposits from the public.

Note: Listing is provided from data as of January 31, 2022.

For any questions on fresh/rejected applications for NBFC registration and compliance, please feel free to reach out to Ozg Support Team.

WhatsApp 📳 8850585672
Contact Email 📩 [email protected]

🟣🟢🔵 nbfcregistration.com

📌 Register your NBFC via nbfcregistration.com. It offers you 99.99% success rate at the best price.

To discuss your case, DM 📲 WA.me/918850585672

( ) do not required permission from RBI to buy a property in India. However, they can only buy residential or commercial properties. The agricultural plots, farmhouses or plantations are restricted for NRIs.

There are following documents required -

📌 Passport and/or OCI card: You will need an Indian passport or if you hold a foreign passport, you can buy property in India, provided you have an OCI (Overseas Citizen of India) card. Learn more at https://ocicard.ozg.in and simply WhatsApp to 📲 WA.me/918779696580 for any questions.

📌 PAN Card: This is mandatory for property transactions. Applying for PAN is a very simple and easy. You can simply visit NSDL website for PAN.

📌 Current Address Proof: Latest Bank Statement Or Utility Bill.

📌 Power of attorney (PoA): You need to also provide a power of attorney, in case you are not available in India for executing the deal. Please note that you will need a power of attorney which is registered and notarized and not a general power of attorney to execute a property transaction.

------------------------------------------------------------

📌 How can you execute a ?

A power of attorney authorizes another person residing in India to complete transactions on your behalf. The POA will need to be signed by you in the presence of a consulate officer or notary in your country of residence. It will also have to be attested by them.

📌 How can you do your transaction for purchase of property in India?

You can make transaction for your property purchases through inward remittances as per FEMA guidelines by RBI.

Appointment Link ☎️ ozglaw.com/appointment

24x7 WhatsApp 📲 WA.me/918779696580

📮 Email to: [email protected]

------------------------------------------------------------

Before going for a property deal, for a hassle-free ownership experience, make sure you check and verify all essential papers. You may consider taking services of Ozg Documentation Centre at competitive fee. Email: [email protected]

📌 (in the seller’s name). Some states have specific paperwork that you need to be aware of.

📌 .

📌 Building permit.

📌 (in case it is a ready building).

📌 Older title deeds, if any.

📌 Updated .

📌 Share certificate (in case it is a cooperative housing society).

📌 NOC from the society.

📌 (if applicable).

If these documents are in order, then you can proceed to prepare the sale agreement for purchasing the property.

📮 Email to: [email protected]

🇮🇳 instagr.am/rbicompliance

Follow 💗 instagr.am/property.lawyers
------------------------------------------------------------

Appointment Link ☎️ ozglaw.com/appointment

24x7 WhatsApp 📲 WA.me/918779696580

Infotainment 🔊 YouTube.com/ozglawyers



FREE Advisory - facebook.com/femaconsultant

The (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide to improve the quality and accuracy of financial data systems. has been introduced by the Reserve Bank in a phased manner for participants in the over the counter ( ) , markets, large corporate and large value transactions in centralised payment systems.

📮 [email protected]

Read full post at link below 📲
https://fema.ozgindia.com/2021/12/fema-regulation-legal-entity-identifier.html

📲 facebook.com/rbicompliance

🇮🇳 instagr.am/rbicompliance

The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

FEMA Consultant - RBI Compliance Group - Ozg Lawyers

Appointment Link ☎️ ozglaw.com/appointment

24x7 WhatsApp 📲 WA.me/918779696580

📮 Don't wait for penalty, Email to: [email protected]

1. Short title and commencement.—

(1) These rules may be called the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000.

(2) They shall come into force on the 1st day of June, 2000.

2. Definitions — In these rules, unless the context otherwise requires,—
(a) “Act” means the Foreign Exchange Management Act, 1999 (42 of 1999);
(b) “Adjudicating Authority” means an officer appointed by the Central Government under sub-section (1) of section 16 of the Act;
(c) “applicant“ means an aggrieved person who makes an appeal before Special Director (Appeals) or Appellate Tribunal, as the case may be;
(d) “Appellate Tribunal” means the Appellate Tribunal for Foreign Exchange established under section 18 of the Act;
(e) “Form” means form appended to these rules;
(f) “section” means a section of the Act;
(g) “Special Director (Appeals)” means Special Director (Appeals) appointed by the Central Government under sub-section (1) of section 17 of the Act;
(h) all other words and expressions used in these rules and not defined but defined in the Act, shall have the meaning respectively assigned to them in the Act.

The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

FEMA Consultant - RBI Compliance Group - Ozg Lawyers

3. Appointment of Adjudicating Authority.—The Central Government may, by an order published in the Official Gazette, appoint as many officers of the Central Government as it may think fit, as the Adjudicating Authorities for holding inquiry under the provisions of Chapter IV of the Act.

4. Holding of inquiry.—

(1) For the purpose of adjudicating under section 13 of the Act whether any person has committed any contravention as specified in that section of the Act, the Adjudicating Authority shall, issue a notice to such person requiring him to show cause within such period as may be specified in the notice (being not less than ten days from the date of service thereof) why an inquiry should not be held against him.

(2) Every notice under sub-rule (1) to any such person shall indicate the nature of contravention alleged to have been committed by him.

(3) After considering the cause, if any, shown by such person, the Adjudicating Authority is of the opinion that an inquiry should be held, he shall issue a notice fixing a date for the appearance of that person either personally or through his legal practitioner or a chartered accountant duly authorised by him.

(4) On the date fixed, the Adjudicating Authority shall explain to the person proceeded against or his legal practitioner or the chartered accountant, as the case may be, the contravention, alleged to have been committed by such person indicating the provisions of the Act or of rules, regulations, notifications, direction or orders or any condition subject to which an authorisation is issued by the Reserve Bank of India in respect of which contravention is alleged to have taken place.

(5) The Adjudicating Authority shall, then, given an opportunity to such person to produce such documents or evidence as he may consider relevant to the inquiry and if necessary, the hearing may be adjourned to future date and in taking such evidence the Adjudicating Authority shall not be bound to observe the provisions of the Indian Evidence Act, 1872 (1 of 1872).

(6) While holding an inquiry under this rule the Adjudicating Authority shall have the power to summon and enforce attendance of any person acquainted with the facts and circumstances of the case to give evidence or to produce any document which in the opinion of the Adjudicating Authority may be useful for or relevant to the subject matter of the inquiry.

(7) If any person fails, neglects or refuses to appear as required by sub-rule (3) before the Adjudicating Authority, the Adjudicating Authority may proceed with the adjudication proceedings in the absence of such person after recording the reasons for doing so.

(8) If, upon consideration of the evidence produced before the Adjudicating Authority, the Adjudicating Authority is satisfied that the person has committed the contravention, he may, by order in writing, impose such penalty as he thinks fit, in accordance with the provisions of section 13 of the Act.

(9) Every order made under sub-rule (8) of the rule 4 shall specify the provisions of the Act or of the rules, regulations, notifications, direction or orders or any condition subject to which an authorisation is issued by the Reserve Bank of India in respect of which contravention has taken place and shall contain 1[***] reasons for such decisions.

(10) Every order made under sub-rule (8) shall be dated and signed by the Adjudicating Authority.

(11) A copy of the order made under sub-rule (8) of the rule 4 shall be supplied free of charge to the person against whom the order is made and all other copies of proceedings shall be supplied to him on payment of copying fee @ Rs. 2 per page.

(12) The copying fee referred to in sub-rule (11) shall be paid in cash or in the form of demand draft in favour of the Adjudicating Authority.

The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

FEMA Consultant - RBI Compliance Group - Ozg Lawyers

Appointment Link ☎️ ozglaw.com/appointment

24x7 WhatsApp 📲 WA.me/918779696580

📮 Don't wait for penalty, Email to: [email protected]

5. Form of Appeal.—

(1) Every appeal presented to the Special Director (Appeals) under section 17 of the Act shall be in the Form I signed by the applicant. The appeal shall be filed in triplicate and accompanied by three copies of the order appealed against. Every appeal shall be accompanied by a fee of Rupees five thousand in the form of cash or demand draft payable in favour of the Special Director (Appeals).

(2) The appeal shall set forth concisely and under distinct heads the grounds of objection to the order appealed against with any argument of narrative and such grounds shall be numbered consecutively; and shall specify the address for service at which notice or other processes may be served on the applicant, the date on which the order appealed against was served on the applicant.

(3) Where the appeal is presented after the expiry of the period of forty-five days referred to in sub-section (3) of section 17, it shall be accompanied by a petition, in triplicate, duly verified and supported by the documents, if any, relied upon by the applicant, showing cause how the applicant had been prevented from preferring the appeal within the said period of forty-five days.

(4) Any notice required to be served on the applicant shall be served on him in the manner specified in the rule 9 at the address for service specified in the appeal.

6. Procedure before Special Director (Appeals).—

(1) On receipt of an appeal under rule 5, the Special Director (Appeals) shall send a copy of the appeal, together with a copy of the order appealed against, to the Director of Enforcement.

(2) The Special Director (Appeals) shall, then, issue notices to the applicant and the Director of Enforcement fixing a date for hearing of the appeal.

(3) On the date fixed for hearing of the appeal or any other day to which the hearing of the appeal may be adjourned, the applicant as well as the presenting officer of the Directorate of Enforcement shall be heard.

(4) Where on the date fixed, or any other day to which the hearing of the appeal may be adjourned, the applicant or the presenting officer fail to appeal when the appeal is called for hearing, the Special Director (Appeals) may decide the appeal on the merits of the case 1[within one hundred and eighty days from the date of such appeal.]

The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

FEMA Consultant - RBI Compliance Group - Ozg Lawyers

7. Contents of the Order in appeal.—

(1) The order of Special Director (Appeals) shall be in writing and shall state briefly the grounds for the decision.

(2) The order referred to in sub-rule (1) shall be signed by the Special Director (Appeals) hearing the appeal.

8. Representation of party.—Any applicant who has filed an appeal before the Special Director (Appeals) under section 17 of the Act, may appoint a legal practitioner or a charterted accountant to appear and plead and act on his behalf before the Special Director (Appeals) under the Act.

9. Service of notices, requisitions or orders.—A notice, requisition or an order issued under these rules shall be served on any person in the following manner, that is to say,—

(a) by delivering or tendering the notice or requisition or order to that person or his duly authorised person;

(b) by sending the notice or requisition or order to him by registered post with acknowledgment due to the address of his place of residence or his last known place or residence or the place where he carried on, or last carried on, business or personally works or last worked for gain; or

(c) by affixing it on the outer door or some other conspicuous part of the premises in which the person resides or is known to have last resided or carried on business or personally works or last worked for gain and that written report thereof should be witnesses by two persons; or

(d) if the notice or requisition or order cannot be served under clause (a) or clause

(b) or clause (c), by publishing in a leading newspaper (both in vernacular and in English) having wide circulation of area or jurisdiction in which the person resides or is known to have last resided or carried on business or personally works or last worked for gain.

The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

FEMA Consultant - RBI Compliance Group - Ozg Lawyers

Appointment Link ☎️ ozglaw.com/appointment

24x7 WhatsApp 📲 WA.me/918779696580

📮 Don't wait for penalty, Email to: [email protected]

10. Form of appeal.—

(1) Every appeal presented to the Appellate Tribunal under section 19 of the Act shall be in the Form II signed by the applicant. The appeal shall be sent in triplicate and accompanied by three copies of the order appealed against. Every appeal shall be accompanied by a fee of Rupees ten thousand in the form of cash or demand draft payable in favour of the Registrar, Appellate Tribunal for Foreign Exchange, New Delhi: Provided that the applicant shall deposit the amount of penalty imposed by the Adjudicating Authority or the Special Director (Appeals) as the case may be, to such authority as may be notified under the first proviso to section 19 of the Act: Provided further that where in a particular case, the Appellate Tribunal is of the opinion that the deposit of such penalty would cause undue hardship to such person, the Appellate Tribunal may dispense with such deposit subject to such conditions as it may deem fit to impose so as to safeguard the realisation of penalty.

(2) The appeal shall set forth concisely and under distinct heads the grounds of objection to the order appealed against without any argument of narrative and such grounds shall be numbered consecutively; and shall specify the address for service at which notice or other processes may be served on the applicant, the date on which the order appealed against was served on the applicant; and the sum imposed by way of penalty under section 13 and the amount of fee prescribed in sub-rule (1) had been deposited or not.

(3) Where the appeal is presented after the expiry of the period of forty-five days referred to in sub-section (2) of section 19, it shall be accompanied by a petition, in triplicate, duly verified and supported by the documents, if any, relied upon by the applicant, showing cause how the applicant had been prevented from preferring the appeal within the said period of forty-five days.

(4) Any notice required to be served on the applicant shall be served on him in the manner prescribed in rule 14 at the address for service specified in the appeal.

The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

FEMA Consultant - RBI Compliance Group - Ozg Lawyers

11. Procedure before Appellate Tribunal.—
(1) On receipt of an appeal under rule 10, the Appellate Tribunal shall send a copy of the appeal, together with a copy of the order appealed against, to the Director of Enforcement.

(2) The Appellate Tribunal shall, then, issue notices to the applicant and the Director of Enforcement fixing a date for hearing of the appeal.

(3) On the date fixed for hearing of the appeal, or any other day to which the hearing of the appeal may be adjourned, the applicant as well as the presenting officer of the Directorate of Enforcement shall be heard.

(4) Where on the date fixed, or any other day to which the hearing of the appeal may be adjourned, the applicant or the presenting officer fail to appear when the appeal is called on for hearing, the Appellate Tribunal may decide the appeal on the merits of the case.

12. Contents of the Order in appeal.—

(1) The order of Appellate Tribunal shall be in writing and shall state briefly the grounds for the decisions.
(2) The order referred to in sub-rule (1) shall be signed by the Chairman or Member or the Appellate Tribunal hearing the appeal.
The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

13. Representation of party.—Any applicant who has filed an appeal before the Appellate Tribunal under section 19 of the Act may appoint a legal practitioner or a charterted accountant to appear and plead and act on his behalf before the Special Director (Appeal) under the Act.

14. Service of notices, requisitions or orders.—A notice, requisition or an order issued under these rules shall be served on any person in the following manner, that is to say,—
(a) by delivering or tendering the notice or requisition or order to that person or his duly authorised person;
(b) by sending the notice or requisition or order to him by registered post with acknowledgment due to the address of his place of residence or his last known place or residence or the place where he carried on, or last carried on, business or personally works or last worked for gain; or
(c) by affixing it on the outer door or some other conspicuous part of the premises in which the person resides or is known to have last resided or carried on business or personally works or last worked for gain and that written report thereof should be witnesses by two persons; or
(d) if the notice or requisition or order cannot be served under clause (a) or clause (b) or clause (c), by publishing in a leading newspaper (both in vernacular and in English) having vide circulation of area or jurisdiction in which the person resides or is known to have last resided or carried on business or personally works or last worked for gain.

The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000

FEMA Consultant - RBI Compliance Group - Ozg Lawyers

Appointment Link ☎️ ozglaw.com/appointment

24x7 WhatsApp 📲 WA.me/918779696580

📮 Don't wait for penalty, Email to: [email protected]

Form I (See rule 5) Form of Appeal From (Mention the name and address of the applicant here) To The Special Director (Appeals) (Address) Sir, The applicant named above, begs to prefer this appeal under section 17 of the Foreign Exchange Management Act, 1999 against Order No. ………………dated ……………… passed by the Adjudicating Authority under the said Act on the following facts and grounds. Facts (Mention briefly the facts of the case here. Enclose copy of the order passed by the Adjudicating Authority and copies of other relevant documents, if any) Grounds (Mention here the grounds on which the appeal is made) Prayer In the light of what is stated above, the applicant prays that he/she/it may be granted the following relief. Relief sought (Specify the relief sought) The fee of Rs. ........................................................ for this appeal has been deposited in .....................................................vide Receipt No. ..........................dated............................... Place............................... Date.............................. (Signature of the applicant or his Authorised representative) List of documents attached: (Signature of the applicant or his Authorised representative) The Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000 Form II (See rule 10) Form of Appeal From (Mention the name and address of the applicant here) To The Registrar Appellate Tribunal for Foreign Exchange (Address). Sir, The applicant named above, begs to prefer this appeal under section 17 of the Foreign Exchange Management Act, 1999 against Order No. .....................dated..................passed by the Adjudicating Authority under the said Act on the following facts and grounds. Facts (Mention briefly the facts of the case here. Enclose copy of the order passed by the Adjudicating Authority and copies of other relevant documents, if any) Grounds (Mention here the grounds on which the appeal is made) Prayer In the light of what is stated above, the applicant prays that he/she/it may be granted the following relief. Relief sought (Specify the relief sought) The fee of Rs. ................................................. for this appeal has been deposited in ...........................................vide Receipt No............................... dated................................ 2. The amount of penalty imposed by Adjudicating Authority or Special Director (Appeal), as the case may be, Rs...................................for this appeal has been deposited in........................ vide Receipt No. .................................dated........................ Place............................. Date.............................. (Signature of the applicant or his Authorised representative) List of documents attached: (Signature of the applicant or his Authorised representative)

Visit to link below -

RBI Compliance 🇮🇳 https://firms.rbi.ozg.in

RBI Compliance 🇮🇳 https://flair.rbi.ozg.in

Appointment Link ☎️ ozglaw.com/appointment

24x7 WhatsApp 📲 WA.me/918779696580

📮 Don't wait for penalty, Email to: [email protected]

🇮🇳 instagr.am/rbicompliance

🔊 YouTube.com/ozglawyers



FREE Advisory - facebook.com/femaconsultant