Friday, 17 January 2014

SC : Forex dealings amongst authorized Money Changers via pay orders don't violate RBI and FERA norm

CL : Where a sale and purchase transaction in foreign exchange had taken place between two licensed Full Fledged Money Changers (FFMCs) and said transaction was carried on by exchange of foreign currency by way of payment in form of pay orders, there was no violation of paragraph 3 of Memorandum of FLM, read with section 6 of FERA Act, 1973


No comments:

Post a Comment