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CA Intermediate · Corporate and Other Laws · The Foreign Exchange Management Act, 1999

A person aggrieved by an order of the Adjudicating Authority under FEMA, imposing a penalty on him, wishes to appeal. Which is the correct position regarding the first appeal?

The aggrieved person first appeals to the Special Director (Appeals) against the Adjudicating Authority's order. A further appeal against the Special Director's decision lies to the Appellate Tribunal. Appeal is neither direct to the Supreme Court nor to the RBI Governor, and is not barred.

  1. AAppeal lies directly to the Supreme Court
  2. BAppeal lies to the Special Director (Appeals), and thereafter to the Appellate TribunalCorrect
  3. CAppeal lies to the Reserve Bank of India Governor
  4. DNo appeal is allowed against an adjudication order

Explanation

Under FEMA, an order of the Adjudicating Authority is appealable to the Special Director (Appeals), and a further appeal lies to the Appellate Tribunal against the Special Director's order. A direct appeal to the Supreme Court or to the RBI Governor is not the route.

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