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Director can be proceeded against for contravention FERA if he was in charge of company affairs

August 1, 2020[2020] 118 9 (SC)

FEMA, BANKING & INSURANCE: Necessary ingredient for proceeding against a Director of a company for contravention of provisions of FERA, 1973 shall be that at time offence was committed, Director was in-charge of and was responsible to company for conduct of business of company

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