Nu.Delhi.Law.Fora. (Advocate-on-Record Supreme Court of India) 22 January 2011
Dear Experts,
Please opine whether a Criminal Complaint for failure to repatriate exports proceeds can continue in trial court for violation under Section 18(2) & 18(3) of FERA Act when RBI writes off /waive repatriation of said foreign dues.
Thanks in anticipation.
M.S.Bhalerao (advocate) 28 January 2011
Sir,
Write off/Waiver is internal and administrative action of the RBI.The case can continue till(1) final order by the court or (2) The case is withdrawn by the complainant
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