J.P Morgan India Pvt. Ltd. inquired on the alleged violation of Section 6(6) of the Foreign Exchange Management Act, 1999

Last updated: 01 June 2021

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Quick Summary

The Delhi High Court is hearing petitions from J.P. Morgan India Private Limited challenging a show cause notice and subsequent orders related to an inquiry. The inquiry, initiated by the Directorate of Enforcement, concerns an alleged violation of Section 6(6) of the Foreign Exchange Management Act, 1999. This action stems from findings of fraudulent transactions in a separate Supreme Court case involving the Amrapali Group.

Court :
Delhi High Court

Brief :
These petitions have been filed by the petitioner challenging the Show Cause Notice(s) dated 29.01.2020 and the consequent Order(s) dated 05.06.2020 and the Communication(s) dated 03.09.2020 of the respondent no. 1, proceeding with the inquiry against the petitioner under the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000 (hereinafter referred to as the ‘Adjudication Rules’) on the alleged violation of Section 6(6) of the Foreign Exchange Management Act, 1999 (hereinafter referred to as the ‘FEMA’) read with Regulation 3 of the Foreign Exchange Management (Establishment in India of a branch office or a liaison office or a project office or any other place of business) Regulations, 2000 (hereinafter referred to as the ‘Place of Business Regulations’).

Citation :
W.P.(C) 6240/2020 & CM 22295/2020

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