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No violation of section 8 as there was material evidence to show steps taken by co. to repatriate export proceeds

April 24, 2019[2019] 105 170 (SC)

FEMA, BANKING & INSURANCE: Where appellant company and its directors filed materials to show as to what steps they had taken to repartiate foreign exchange, but, High Court proceeded on wrong assumption that since appellants did not file any material, a case was made out against them, observation of High Court was contrary to record of case

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