Tag Archives: Section 37A(1)

No seizure of assets in India if value of foreign asset acquired in breach of FEMA is below 1 crore

By | October 8, 2015

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 16th September, 2015 G.S.R. 701(E).—In exercise of the powers conferred by the proviso to sub-section (1) of Section 37A of the Foreign Exchange Management Act, 1999 (42 of 1999), the Central Government hereby prescribes the mandatory threshold of the aggregate value of Foreign Exchange, Foreign… Read More »