Page 293 - ELT_15th June 2020_VOL 372_Part 6th

2020 ] SUBJECT INDEX 939
Foreign Exchange Management Act, 1999 (Contd.)
— Sections 16(6) and 42(1) proviso - Non-utilisation of foreign exchange
procured for completing import procedure - Imported goods remained
uncleared and Bill of Entry not submitted - Contravention relating to
year 2000 whereas Managing Director (MD) of Company came in 2001 -
Managing Director was alive to default, sought indulgence of authorities
for more time but did not take corrective steps - HELD : Contravention of
Section 10(6) ibid is continuing actionable offence - Company and
persons managing its affairs remain liable till corrective measures were
taken - Managing Director was alive to default and he could not plead, in
terms of proviso to Section 42(1) ibid, that contravention took place
without his knowledge or he exercised all due diligence to prevent
contravention — Suborno Bose v. Enforcement Directorate (S.C.) .............. 3
— Section 42(1) - See under FOREIGN EXCHANGE MANAGEMENT ACT,
1999 .......................................... 3
FOREIGN EXCHANGE MANAGEMENT (ENCASHMENT OF DRAFT,
CHEQUE, INSTRUMENT AND PAYMENT OF INTEREST) RULES,
2000 :
— Rule 8 - See under PENALTY ........................... 701
FOREIGN EXCHANGE MANAGEMENT (EXPORT AND IMPORT OF
CURRENCY) REGULATIONS, 2000 :
— See under CONFISCATION AND PENALTY .................. 750
FOREIGN EXCHANGE MANAGEMENT (REALISATION,
REPATRIATION AND SURRENDER OF FOREIGN EXCHANGE)
REGULATIONS, 2000 :
— Regulation 6 - See under FOREIGN EXCHANGE MANAGEMENT ACT,
1999 .......................................... 3
FOREIGN EXCHANGE REGULATION ACT, 1973 :
— Section 9(1)(b) - See under PENALTY ....................... 701
Foreign marking - Burden of proof on seizure of silver granules of foreign
marking - See under SMUGGLING ....................... 724
FOREIGN TRADE (DEVELOPMENT AND REGULATION) ACT, 1992 :
— See also under EXIM ................................ 847
— Section 9(2) - See under EXIM ........................... 330
— Section 9(4) - See under EXIM ........................... 330
FOREIGN TRADE POLICY, 2004-09 :
— Served From India Scheme - Clause 3.6.4.2 - Scope of - Its benefit cannot
be restricted to entities that fulfil two conditions stipulated therein - It is
export promotions schemes intended to benefit exporters who earn
valuable foreign exchange - On facts, held that benefit of SFIS cannot be
denied to Indian subsidiary of foreign country having non-Indian brands
known globally - Policy Interpretation Committee decision to deny
benefit of SFIS found to dovetail para 3.6.4.1 of Foreign Trade Policy,
2004-2009 into para 3.6.4.2 thereof, which was untenable in law — Union of
India v. E.I. Dupoint India (Del.) ............................. 625
— See also under EXIM ................................ 646
Foreign Trade Policy (FTP) - Merchandise Exports from India Scheme
(MEIS) - Non-issuance of MEIS scrip - Mistake in shipping bill -
Petitioner inadvertently omitted to select ‘YES’ as option for availing
MEIS benefit, on online platform - Benefit of Scheme would be available
to petitioner conditional upon verification and acceptance of such claim
by DGFT - Order rejecting request for amendment quashed and a
EXCISE LAW TIMES  15th June 2020  293