The Telangana High Court has ruled that Rule 9 of the Security Interest (Enforcement) Rules, 2002 does not apply when a secured creditor suppresses material facts…
The Delhi High Court, in its ruling on Arjun Patil v. Union of India & Ors., clarified two key aspects concerning foreign exchange law. It held that Indian currency involved in unauthorized foreign exchange dealings could be confiscated under the Foreign Exchange Regulation Act, 1973 (FERA). The Court also emphasized that appeals to the High Court under Section 35 of the Foreign Exchange Management Act, 1999 (FEMA), are restricted solely to questions of law and do not extend to factual disputes. The judgment delineates the boundary between legal and factual considerations in foreign exchange enforcement cases.
