Supreme Court Sets Aside FEMA Proceedings: Judgment by Justice Vikram Nath and Justice Sandeep Mehta
Introduction In a significant ruling, the Supreme Court of India ruled in J. Sri Nisha v. Special Director, Directorate of…
Tag: FEMA
Supreme Court Rejects Lalit Modi’s Plea to Shift FEMA Penalty to BCCI, Clarifies Limits of Writ Jurisdiction
The Supreme Court dismissed Lalit Modi’s writ petition seeking indemnification from BCCI for a ₹10.65 crore FEMA penalty arising from the 2009 IPL shift to South Africa. It ruled that BCCI is not a “State” under Article 226 for internal financial disputes. While Modi can pursue civil remedies, writ jurisdiction is not applicable for private indemnity claims. The ruling reinforces the boundary between public and private functions of sporting bodies like BCCI.
Karnataka High Court Quashes 2019 Enforcement Directorate Complaint Against Greenpeace India for Alleged Foreign Exchange Management Act Violations
In June 2020, the High Court of Karnataka overturned a 2019 complaint by the Enforcement Directorate against Greenpeace India. The complaint was against the contravention of the Foreign Exchange Management Act (FEMA). This decision poses a huge reprieve to the environmental body as that chapter of a lengthy legal battle over its foreign financing is hopefully over.