Foreign Exchange Regulation Act (FERA) Customs law, Financial services regulation law / By Advocates / Law Firms / 5 minutes of reading / A person has to use foreign exchange for the borrowed purpose only. In case if he is unable to use for that purpose, A person with forex receipt rights should not delay receipt of forex., advisory services on foreign investments by Indian nationals, advisory services on investment in India by foreign nationals, enforcement authorities, Exported goods payments are as per RBI, FEMA charges are removable, FERA provisions results in imprisonment, file your applications with RBI for compounding offences, foreign exchange and books of account., foreign exchange control law, foreign exchange control regulations definition, foreign exchange guarantee regulations, foreign exchange law, foreign exchange law act, foreign exchange law in india, foreign exchange laws, foreign exchange laws india, foreign exchange lawsuit, foreign exchange lawyer, foreign exchange management law, foreign exchange rate regulation, foreign exchange regulation and procedures, foreign exchange regulation by, foreign exchange regulation definition, foreign exchange regulation guideline, foreign exchange regulations and formalities, foreign exchange trading regulation, foreign exchange transaction law, foreign exchange transaction regulations, foreign investment, Foreign professionals need permission from RBI to practice in India, Key Differences between FERA and FEMA, Keys features of FERA, Lawyers specializing in FERA cases, Legal services for FERA OR FEMA issues in Chennai, No person can draw/ issue/negotiate any bill of exchange which has payment rights outside India., No person can make credit to a person’s account out of India., No person in India can make payments outside India without RBI permission. No person in India can receive money from outside India without RBI Permission, Only authorized dealer can enter into foreign currency dealing., Power to search suspected persons and to seize documents, prepare reply to show cause notices or enforcement director memo, RBI can approve a foreign exchange dealing of a person / company, RBI can approve dealers to transact Foreign Currencies, RBI could approve Money Changers. They convert currency of one nation to other at RBI rates., RBI demands info from a person on Indian currency, RBI only can authorize persons who can send foreign currency outside India., Restraint on appointment of persons/companies as FOREX agents, Restraint on establishing business place in India, Restraint on export & import of certain currency, Restraint on foreign exchange dealing, Restraint on foreigners acquisition or holding immovable property in India, Restraint on giving bearer securities, Restraint on illegal payments, Restraint on owning immovable property outside India, Restraint settling in other country, subject to review sooner or later. In case of non-compliancy it has powers to revoke., then he has to sell it an authorized dealer within 30 days., Top advocates for Foreign Exchange Regulation Act (FERA), Violation of FEMA violation is a compoundable offence, Violation of FERA is a non-compoundable offence ADVOCATES FOR FOREIGN EXCHANGE REGULATION ACT (FERA) Foreign Exchange Regulation Act in short is FERA. This Act got enacted in 1973 on the whole. Of Course. This act imposes strict regulations on given these points: Certain nature of payments, Certain foreign exchange and securities dealings Transactions that have indirect impact on foreign exchange Transactions that have indirect impact on import and export of currency.
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