RBI Write Off and Criminal Prosecution under FERA Act

Dear Experts,

Please opine whether a Criminal Complaint for failure to repatriate exports proceeds can continue in trial court for violation under Section 18(2) & 18(3) of FERA Act when RBI writes off /waive repatriation of said foreign dues.

Thanks in anticipation.

Reply Follow

1 Replies

M.S.Bhalerao (advocate) 28 January 2011

Sir,

Write off/Waiver is internal and administrative action of the RBI.The case can continue till(1) final order by the court or (2) The case is withdrawn by the complainant