Foreign Exchange Management Act — Legal Precedents

Legal Precedents

Enforcement Directorate vs. Xiaomi Technology India Pvt. Ltd.

2022

This case established important precedents regarding ED's investigative powers under FEMA, particularly in technology sector violations. The case involved allegations of…

Directorate of Enforcement vs. Vijay Mallya

2016-ongoing

This landmark case demonstrates FEMA's role in preventing economic fugitives from transferring assets abroad. The case established precedents for asset attachment, international…

Reserve Bank of India vs. Karvy Stock Broking Ltd.

2019

This case clarified the responsibilities of authorized dealers under FEMA and established penalties for facilitating unauthorized transactions. The judgment emphasized the duty of…

Enforcement Directorate vs. Sterling Biotech Ltd.

2018

This case illustrated the coordination between FEMA and PMLA in complex financial fraud cases. It established precedents for treating FEMA violations as predicate offenses under…

SEBI vs. Sahara Group

2012-2015

This case showed the intersection of FEMA with securities regulations in cross-border investment schemes. It established precedents for regulatory coordination and the treatment…