Supreme Court Quashes Penalty on Part-Time Director in FERA Contravention Case Due to Lack of Specific Findings on Responsibility. Liability Under Foreign Exchange Regulation Act, 1973 Requires Proof That Director Was in Charge of and Responsible for Conduct of Business at Relevant Time, Not Mere Directorship.
27 Jul 2020The appeal arose from a penalty imposed on the appellant, a part-time non-executive director of Modi Xerox Ltd., for alleged contravention of the Fore...




