Hello!
Could you tell me what are the corrupt practices that will amount to violation of FEMA provisions? And are there any case laws to it? If yes, then has there been laid any guidelines by the Courts to determine the corrupt practices amounting to violation of FEMA?
Thanks a lot in advance,
Candy!
There are several provisions and sections that deals in fema vioations- for instance a person resident outside india purchasing property in India or investing in real estate has to abtain approval of central government and the RBI - if he doesnt that would amount to violation of Fema regulations.
Regards
Tanveer Md Masood
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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