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

Anita, aggrieved by an order of the Adjudicating Authority under FEMA, 1999, wants to challenge it. Which is the correct forum for her first appeal?

The first appeal against an Adjudicating Authority's order under FEMA goes to the Special Director (Appeals). A further appeal lies to the Appellate Tribunal and then to the High Court on questions of law. NCLT, SAT and direct Supreme Court appeals are not the route.

  1. ADirectly the Supreme Court of India
  2. BThe Special Director (Appeals), and thereafter the Appellate TribunalCorrect
  3. CThe National Company Law Tribunal
  4. DThe Securities Appellate Tribunal

Explanation

An order of the Adjudicating Authority is first appealed to the Special Director (Appeals). A further appeal lies to the Appellate Tribunal for Foreign Exchange, and then to the High Court on a question of law. NCLT and SAT have no jurisdiction under FEMA.

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