Offence Liability of FERA is not solely dependent on the designation of the officer but also on his/her role in Company Affairs


Last updated: 07 August 2020

Court :
Supreme Court of India

Brief :
In the case of Shailendra Swarup vs. the Deputy Director, Enforcement Directorate, the Supreme Court bench comprising of Justice Ashok Bhushan, and Justice R. Subhash Reddy delivered a judgment stating that the proceedings complying with section 68 of Foreign Exchange Regulation Act, 1973 (FERA) depends upon the nature of role one plays in the affairs of the company or an organization and not only upon the designation or status in the company.

Citation :
SHAILENDRA SWARUP Vs THE DEPUTY DIRECTOR, ENFORCEMENT DIRECTORATE

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