Over 2,600 cases pending adjudication under repealed FERA


Under the current law, Foreign Exchange Management Act (FEMA) which replaced the Foreign Exchange Regulation Act (FERA), there are 1,351 cases which are pending adjudication process.

According to the Finance Ministry data 2009-10 updated till October, a total of 2,661 cases are awaiting adjudication proceedings under FERA.

Out of 4,083 other cases which were under prosecution process — 2,300 were for non-payment of penalties and 1,783 were for substantive offences, it said.
The department is said to have completed adjudication proceedings in 1127 cases under FERA during the period.

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