FEMA - Forex Trading

Querist : Anonymous (Querist) 20 June 2011 This query is : Resolved
http://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6336&Mode=0

From the above RBI notification I understand that a resident Indian cannot trade forex in any other country. From the notification I am not able to understand what will be the legal implications if someone has remitted money to some foreign broker and trading for a while. I assume any contravention of fema is a civil offence rather than criminal one. Please help to understand the implications. I appreciate the help.

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