Issues surrounding FEMA, 1999 and Prevention of Money Laundering Act, 2002

The twin objectives of Foreign Exchange Management Act, 1999 (“FEMA, 1999”) are (i) promotion and regulation of foreign trade; and (ii) prevention of volatility and undue fluctuations in the value of Indian currency along with the orderly maintenance and development of the foreign exchange market. With the removal of restrictions on free trade in various sectors in the […]
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