Supreme Court · 2014 INSC 29 · Decided 16 January 2014
Tulip Star Hotels LTD. v. Special Director of Enforcement
- Court
- Supreme Court of India
- Citation
- 2014 INSC 29 · [2014] 1 S.C.R. 434
- Case number
- CIVIL APPEAL No. 680/2014
- Decided
- 16 January 2014
- Bench
- S.S. NIJJAR, F.M. IBRAHIM KALIFULLA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Memorandum of FLM issued by RBI - Clause 9 - C Sale of foreign currency - Restriction - Held: Under paragraph 9, as between the money changers, a free hand has been given for purchase and sale of any foreign currency notes etc. in rupee value - The only restriction the Indian rupee value of the foreign currency D should not be paid by way of cash, but should always be paid in the form of a negotiable instrument or by debiting to the purchasers' bank account - In the instant case, transaction was carried on by way of payment in the form of pay-orders - It
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