Revision of monetary limit for adjudication under FEMA,1999

Revision of monetary limit for adjudication under FEMA,1999

Revision of monetary limit for adjudication under FEMA,1999

S.O. 2128(E).—In exercise of the powers conferred by section 16 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Extraordinary, Part-II, section-3, sub-section(ii) vide number S.O. 4990(E), dated the 27th September, 2018, except as respects things done or omitted to be done before such supersession, the Central Government hereby appoints the following officers of the Directorate of Enforcement specified in Column(2) of the Table below as the Adjudicating Authorities for holding an inquiry in the manner prescribed after giving a reasonable opportunity of being heard for the purpose of imposing any penalty under section 13 of the said Act, involving an amount or value as specified in column (3) of the said Table.

TABLE

Sl. NoDesignation of OfficersMonetary limit
(1)(2)(3)
1Special Director of EnforcementCases involving amount exceeding rupees twenty five crores.
2Additional Director of EnforcementCases involving amount upto rupees twenty five crores but not less than five crores.
3Joint Director of EnforcementCases involving amount upto rupees twenty five crores but not
less than five crores.
4Deputy Director of EnforcementCases involving amount upto rupees five crores and not less
than two crores.
5Assistant Director of EnforcementCases involved of amount not exceeding rupees two crores.

Notification

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