Judgment Search Results Home > Cases Phrase: foreign exchange regulation act 1973 repealed section 19 regulation of export and transfer of securities Page 1 of about 280 results (0.165 seconds)

Needle Industries (India) Ltd. and ors. Vs. Needle Industries Newey (I ...

Court : Supreme Court of India

Reported in : AIR1981SC1298; (1982)1CompLJ1(SC); 1981(2)SCALE959; (1981)3SCC333; [1981]3SCR698

..... the foreign exchange regulation act, 46 of 1973, is 'an act to consolidate and amend the law regulating certain payments, dealings in foreign exchange and securities, transactions indirectly affecting foreign exchange and the import and export of currency and bullion, for the conservation of the foreign exchange resources of the country and the proper utilisation there of in the interests of the economic development of the country'. ..... shri seervai further contends :(a) the right of renunciation is not a 'transfer' and therefore the directors' power to refuse to register the shares under the articles does not extend to renunciation ; (b) before considering section 43a, which was inserted for the first time in the act of 1956 by the amending act of 1960, it should be noted that section 81 as enacted in the act of 1956 contained three sub-sections (1), 2 and 3, and sub-section 3 provided that 'nothing in this section shall apply to a private company'. ..... it repealed the earlier act, namely, the foreign exchange regulation act, 1947, and came into force on january 1, 1974.57. .....

V.Bhaskaran Vs. the Special Director of Enforcement and ors.

Court : Chennai

..... repeal and saving: (1) the foreign exchange regulation act, 1973 (46 of 1973) is hereby repealed and the appellate board constituted under sub-section (1) of section 52 of the said act (hereinafter referred to as the repealed act) shall stand dissolved. ..... the fera was passed by the parliament in 1973 and it came into force with effect from january 1, 1974 in order to 'regulate certain payments, dealings in foreign exchange and securities, transactions indirectly affecting foreign exchange and the import and export of currency, for the conservation of foreign exchange resources of the country. ..... done or taken under the corresponding provisions of this act; (b) any appeal preferred to the appellate board under sub-section (2) of section 52 of the repealed act but not disposed of before the commencement of this act shall stand transferred to and shall be disposed of by the appellate tribunal constituted under this act; (c) every appeal from any decision or order of the appellate board under sub-section (3) or sub-section (4) of section 52 of the repealed act shall, if not filed before the commencement of this act, be filed before the high court within a period .....

Dropti Devi and anr. Vs. Union of India and ors

Court : Supreme Court of India

..... and reasons of the cofeposa act, it is apparent that the purpose of the act is to prevent violation of foreign exchange regulations or smuggling activities which are having increasingly deleterious effect on the national economy and thereby serious effect on the security of the state.section 3 of the cofeposa act, which is not amended or repealed, empowers the authority to exercise its power of detention with a view to preventing any person inter alia from acting in any manner prejudicial to the conservation or augmentation of foreign exchange ..... to consolidate and amend the law regulating certain payments, dealings in foreign exchange and securities, transactions indirectly affecting foreign exchange and the import and export of currency for the conservation of the foreign exchange resources of the country and the proper utilization ..... while dealing with the effect of foreign exchange management act, 1999 (for short, 'fema') and the repeal of foreign exchange regulation act, 1973 (for short, 'fera') , the division bench ..... person other than an authorised dealer shall in india, and no person resident in india other than an authorised dealer shall outside india, purchase or otherwise acquire or borrow from, or sell, or otherwise transfer or lend to or exchange with, any person not being an authorised dealer, any foreign exchange:provided that nothing in this sub-section shall apply to any purchase or sale of foreign currency effected in india between any person and a money-changer. .....

S.S. Subair Vs. Union of India (Uoi)

Court : Delhi

Reported in : 114(2004)DLT705

..... it was, on the above basis, argued that since the foreign exchange regulation act, 1973 has been repealed, the proposed detention of the petitioner for violation of the provisions of the said act does not arise and is, thereforee, liable to be quashed.9. ..... the repeal of the foreign exchange regulation act, 1973 is not accompanied by a corresponding repeal or amendment of provisions of cofeposa so as to render any detention impermissible even if the person concerned is seen to be acting in a manner prejudicial to the augmentation of country's foreign exchange resources ..... detention order as rightly pointed out by counsel for the respondents is not made under the foreign exchange regulation act, 1973 so as to affect the validity of any order passed under the same by reason of its repeal. ..... was all the same argued was that the order for detention was rendered bad in view of the repeal of foreign exchange regulation act, 1973. ..... though adjudication and prosecution proceedings under the foreign exchange regulation act, 1973, are likely to be initiated against you, i am satisfied that in view of the facts stated hereinabove, it is necessary to detain you under the conservation of foreign exchange and prevention of smuggling activities act, 1974, with a view to preventing you from indulging in activities prejudicial to the augmentation of country's foreign exchange resources.8. ..... a detention order under section 3(1) of the cofeposa act was passed by the authorities on 13.09.1996 against the .....

Union of India Vs. M/S Premier Limited (Formerly Premier Automobiles L ...

Court : Supreme Court of India

..... (1) the foreign exchange regulation act, 1973 (46 of 1973) is hereby repealed and the appellate board constituted under sub section (1) of section 52 of the said act (hereinafter referred to as the repealed act) shall stand dissolved. ..... and its two directors (r 3 and r 4) for allegedly committing contravention of sections 9 (1) (a), 9(1)(c) and section 16(1) of the foreign exchange regulation act, 1973 (hereinafter referred to as fera ) in respect of imports and exports of certain commodities made with two foreign parties, viz. ..... done or taken under the corresponding provisions of this act; (b) any appeal preferred to the appellate board under sub section (2) of section 52 of the repealed act but not disposed of before the commencement of this act shall stand transferred to and shall be disposed of by the appellate tribunal constituted under this act; 15 (c) every appeal from any decision or order of the appellate board under sub section (3) or sub section (4) of section 52 of the repealed act shall, if not filed before the commencement of this act, be filed before the high court within a period .....

R. Venkata Subbu and ors. Vs. the Director of Enforcement and anr.

Court : Chennai

Reported in : (1969)1MLJ281

..... the foreign exchange regulation act (vii of 1947) herein referred to as the act, was enacted as it was considered expedient in the economic and financial interests of india to provide for the regulation of certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion. ..... importation, must, without treasury permission, do or refrain from doing any act with the intent to secure that the sale or importation, as the case may be, shall be delayed to an extent which is unreasonable having regard to the ordinary course of trade, or that payment for the sale shall not be made in the manner indicated by the condition or statement.the effect of this phraseology upon the term of our own section 12 (2) of the foreign exchange regulation act, is self-evident, and need not be further, stressed. ..... seshadri, advocate, that mere over-invoicing by itself is not punishable under section 12 (2) of the foreign exchange regulation act and that the mere inability of an exporter to repatriate the full export proceeds without any violation or omission on his part would not constitute an offence.in my opinion the above arguments are untenable. ..... the rent control and eviction officer found that the deed of partnership was not a genuine one, but a transaction transferring possession of the godown to others for consideration and that it was an illegal form of sub-letting and a device to evade the provisions of the rent control law. .....

A.K.L. Labbai Thambi Maraicar Vs. Government of India, Enforcement Dir ...

Court : Chennai

Reported in : AIR1983Mad102

..... and the provisions of the foreign exchange regulation act, 1973 ..... these cases the appellant received cheques through banks which are authorised by the reserve bank of india to deal in foreign exchange and therefore there is no violation of either section 5 (1) (aa) of the 1947 act and section 9(1)(b) of the 1973 act. ..... violation that has taken place before the 1973 act came into force the 1947 act cannot be invoked as the said act has been repealed, we are of the view that section 6 of the general clauses act has been made specifically applicable by section 81(3) of the 1973 act and if s. ..... applicable in respect of the violation complained of under section 9(1)(b) the further contention advanced by the learned counsel for the appellant that in respect of the violations complained of under the new act the explanation also should be satisfied does not arise ..... the explanation to section 9(1)(b) as found in the 1973 act is as follows :'explanation : for the purpose of this clause, where any person in, or resident in india received any payment by order or on behalf of an authorised dealer without a corresponding inward ..... according to the learned counsel for the appellant though section 9(1)(b) containing the above explanation restricts the application of the provision in section 9(1)(b) only to receipts without a corresponding inward remittance from any place outside india, a close reading of the explanation shows that it is intended to cover cases of payments received by order or on behalf .....

News Television India Ltd. Vs. Special Director of Enforcement

Court : Delhi

Reported in : [2009]92SCL290(Delhi)

..... -(1) the foreign exchange regulation act, 1973 (46 of 1973) is hereby repealed and the appellate board constituted under sub-section (1) of section 52 of the said act (hereinafter referred to as 'the repealed act') shall stand dissolved. ..... the act hereby repealed shall, insofar as it is not inconsistent with the provisions of this act, be deemed to have been done or taken under the corresponding provisions of this act;(b) any appeal preferred to the appellate board under sub-section (2) of section 52 of the repealed act but not disposed of before the commencement of this act shall stand transferred to and shall be disposed of by the appellate tribunal constituted under this act;(c) every appeal from any decision or order of the appellate board under sub-section (3) or sub-section (4) of section 52 of the repealed act shall ..... , if not filed before the commencement of this act, be filed before the high court within a period .....

Bal Chand Bansal Vs. Union of India and ors.

Court : Delhi

Reported in : ILR1987Delhi100

..... (2) the petitioner was arrested on 3-4-1987 for offences under the foreign exchange regulation act 1973 and produced before the additional chief metropolitan magistrate, new delhi, who remanded ..... bagai said that the detaining authority did rely on the papers of the writ petition inasmuch as among others it showed that the petitioner did export goods to india on earlier occasion; documents annexed with the writ petition related to past activities of the petitioner in india; confirmed the fact that the ..... :- 'the matters which have to be considered by the detaining authority are whether the person concerned, having regard to his past conduct judged in the light of the surrounding circumstances and other relevant material, would be likely to act in a prejudicial manner as contemplated in any of sub-clauses (i), (ii) and (iii) of clause (1) of sub-section (1) of section 3, and if so, whether it is necessary to detain him with a view to preventing him from so acting. ..... activities were undertaken outside india while the petitioner was in hongkong; (6) personally the petitioner did not commit any single activity alleged against him while in india; and (7) the presence of the petitioner could be secured by appropriate orders and measures. mr. ..... aforesaid 5 firms, no goods, were sent to india for which his firm had issued invoices favoring the said 5 firms and that after receiving the remittances from these 5, firms in his hongkong bank account he used to transfer those funds to other parties. .....

R. Sivarajan and ors. Vs. Deputy Director, Enforcement Directorate and ...

Court : Chennai

Reported in : 1987(12)ECC256

..... the point raised in all these cases is that the proceedings under section 51 of the foreign exchange regulation act, 1973 (hereinafter referred to as 'the act'), had not been initiated within a period of one year from the date of seizure, that, therefore, the revenue have no authority to retain the money and that they have to return the same and drop all further proceedings. in w. p. no. ..... we must express our disapproval of the action of the department in retaining the document beyond the period of one year specified in section 41 of the foreign exchange regulation act, 1973. ..... in that case arising under the foreign exchange regulation act, 1947, which contained analogous provisions, a certain sum of money was seized from the party therein on may 12, 1973. ..... that the adjudicating officer shall hold an enquiry in the prescribed manner after giving the person a reasonable opportunity of making a representation in the matter and that enquiry was for the purpose of adjudging under section 50 whether such a person has committed contravention of the provisions of the act or of the rules framed thereunder and if on such enquiry he is satisfied that the person has committed a contravention, he may impose such penalty as he thinks fit in accordance with the provisions .....