Start learning →

Where the sum is quantifiable, the FEMA penalty can extend to how many times the sum involved?

ATwice
BTen times
CFive times
DThrice
Answer & Solution
Correct answer: D. Thrice
Section 13(1) allows a penalty of up to three times the sum involved when it can be quantified.
Practise this question with Quill — CA Inter →

Keep practising Foreign Exchange Management Act 1999

Browse all Foreign Exchange Management Act 1999 questions for CA Inter, or explore more Law topics.

Start a Foreign Exchange Management Act 1999 lesson →
Related questions