Skip to content

CS Executive · Setting Up of Business, Industrial and Labour Laws · Setting up of Business outside India and Issues Relating thereto

Under section 37A, who is appointed as the Competent Authority, and what is the time limit for it to dispose of the petition, excluding any court stay period?

The Competent Authority is an officer not below the rank of Joint Secretary, appointed by the Central Government. It must dispose of the petition within one hundred eighty days from the date of seizure, by confirming or setting aside the order, after giving a hearing.

  1. AOfficer not below Joint Secretary rank; 180 days from seizureCorrect
  2. BOfficer not below Joint Secretary rank; 30 days from seizure
  3. COfficer not below Director rank; 180 days from seizure
  4. DReserve Bank Governor; 90 days from seizure

Explanation

Section 37A(2) says the Competent Authority is appointed by the Central Government and is an officer not below the rank of Joint Secretary. Sub-section (3) gives 180 days from seizure to confirm or set aside the order, after hearing the Enforcement Directorate representatives and the aggrieved person. The 30-day figure applies to the Authorised Officer's placement of the order.

Did you get it right without looking?

One question tells you little. A timed set on Setting up of Business outside India and Issues Relating thereto shows your real accuracy, how long you take and where you lose marks.

Practise Setting up of Business outside India and Issues Relating theretoFree diagnostic mock

More Setting up of Business outside India and Issues Relating thereto questions