Salient Features of Foreign Exchange Management Act,1999 (Part-3)

This post is in continuation of our previous posts here and here. C. Penalties Chapter 4- Sections 13 and 15 ¬†of the Act deal with penalties and enforcement of the orders of Adjudicating Authority as well power to compound contraventions… Continue Reading

Salient Features of Foreign Exchange Management Act,1999 (Part -2)

This post is in continuation of our previous post here. Salient Features of FEMA B. Duties and Liabilities of the authorized persons An authorized person may deal in foreign exchange or in foreign securities, as an authorized dealer, money changer… Continue Reading

Salient Features of The Foreign Exchange Management Act, 1999 (Part-1)

Introduction The legislative framework primarily relating to the management of the foreign exchange in India comprises of – (a) The Foreign Exchange Management Act, 1999 (FEMA) ; (b) Allied Rules made by Ministry (under section 46 of FEMA); (c) Regulations… Continue Reading

[Guest Post] Non-Resident Indian (NRI), Person of Indian Origin (PIO), and Overseas Citizen of India (OCI)

This post has been contributed by Mr Anil Malhotra, BSc. LL.B (Punjab), LL.M (London) who heads the firm Malhotra and Malhotra Associates, headquartered at Chandigarh, India. Mr Malhotra has to his credit seven books pertaining to issues of private international… Continue Reading