FEMA lawyers in delhi

The Foreign Exchange Regulation Act, 1973 (FERA) was enacted by the Indian Parliament and it came into force w.e.f. January 1,1974.But the act was unable to meet the post liberalization policies. So, the Foreign Exchange Regulation Act 1973 was replaced by Foreign Exchange Management Act, 1999. FEMA came into force with effect from June1, 2000. It gives the authority and power to Central Government to impose the restrictions on all such activities that include payments to or from any person residing outside India. All the transactions relating to foreign exchange and trade cannot be carried out without prior permission from FEMA. The foreign transactions / trade can be carried out only through an individual who is registered/ authorized under FEMA. Deals involving foreign exchange under current account can be prohibited by Central Government, even after being carried out by an authorized person, based on general public interest. Indian residents will be allowed to carry out trade in foreign exchange, foreign security or to possess an immovable property outside India if it was owned while staying abroad or inherited from a person residing outside India. We, at NNLegal Partners analyse the transactions of the client and scrutinize whether the compliance of Foreign Exchange Management Act has been done properly and provide Forex transaction advisory / FEMA Advisory accordingly.

We conduct not only the regular compliance check-ups but also ensure that the compliances if omitted be rectified and draw a proper check list for all future transactions. Our team is always updated with the changes in the rules and regulations of foreign exchange market and so can actively provide various inputs and valuable advice to its clients.

If any person contravenes any provisions of this Act, or contravenes any rule, regulation , notification, direction or order issued in exercise of the powers under this Act, or contravenes any condition subject to which an authorisation is issued by the Reserve Bank, he shall, upon adjudication, be liable to a penalty up to thrice the sum involved in such contravention where such amount is quantifiable, or up to two lakh rupees where the amount is not quantifiable, and where such contravention is a continuing one, further penalty which may extend to five thousand rupees for every day after the first day during which the contravention continues.

We at NN Legal Partners manage all the phases of the litigation which arise out of the disputes comprehensively. We provide end to end solutions to our clients starting from the issuance of show cause notice to the appellate stage, i.e. upto the Supreme Court. Our services can vary based on the nature of the dispute. With an outstanding team of competent and experienced lawyers with convincing skills, NN Legal Partners is a one stop solution to all your legal troubles. We have served a large number of clients like Private individuals, high profile senior executives, public officials, and corporate bodies like VIDEOCON INDUSTRIES LTD,BSES LTD,DABUR INDIA LTD,INDIABULLS FINANCIAL SERVICES LTD,ICICI BANK LTD, UTI Infrastructure Ltd, UTI Asset Management ltd. All Services Global Pvt ltd and so on -----.We believe that the four pillars of success in litigation are deep understanding of the case, strong research and knowledge base, impeccable drafting skills and proper and effective representation of the client's’ interest.

For any query or assistance you may call us at 9958570167 or mail to info@nnlegalpartners.com