Foreign Exchange Management Act (FEMA)

Procedure

Inquiry by Adjudicating Authority (14)

The inquiry of any contravention of FEMA is conducted by an Adjudicating Authority.

• When, an inquiry is to be conducted against a person for any contravention; the Adjudicating Authority shall issue a notice to such person.
• The notice will also indicate the date on which the offender is required to appear before authority, and will also mention the nature of offence committed by him.
• Such person (offender) will have a right to give reasons or explanation, and then a date will be fixed for his appearance. He can appear either personally or through an Advocate or chartered accountant.
• On the date of appearance, the Adjudicating Authority shall present its case, and explain the reason and type & implications of offence committed by offender.
• Then in turn, such person will also be given an opportunity to put up his case, and to produce documents and evidence.
• Finally, if Adjudicating Authority is convinced, that the offender has committed an offence, then it will impose such fine and penalty, as it thinks fit.