Description
Bloomsbury India Fema Ready Reckoner With Commentary (2 Volumes) by S R Sridhar
About the Book
This book seeks
to provide readers with a practical insight into provisions of FEMA and
associated laws in the form of commentary. General focus of exchange control
laws has gradually shifted over time to compliance, reporting and
documentation. Given that FEMA provides for significant penalty and
prosecution; there is little room for non-compliance. This book is an attempt
to provide professionals and compliance officers with essential knowledge and
tools to understand and undertake the necessary compliances.
The book provides
the latest position without compromising on changes in the law that have taken
place over time. This book is an attempt
to equip professionals, be it CS, CA, CMA or corporate lawyers, who are desirous
of undertaking compliances or practicing on exchange control laws with
requisite knowledge and expertise. It seeks to be a practical guide to
interpretation and compliances under exchange control laws.
The book promises
to be the go-to resource for exchange control laws for current and would be
professionals and compliance officers.
Key features
• Extensive
coverage of FEMA and its allied rules and regulations with Commentary.
• Explanation
of complex concepts in a lucid manner using illustrations and examples so as to
provide clarity and better understanding of the law.
• Diagrammatic
and tabular representation of various concepts for simple and quick
understanding.
• Provides
pertinent answers to issues not explicitly defined by law but clarified through
practice or interpretation of regulators.
• Comprehensive
coverage of:
(i) FEMA
& Allied Acts:
– Foreign
Exchange Management Act, 1999
– Foreign
Contribution (Regulation) Act, 1976
– Foreign
Exchange Regulation Act, 1973
– Conservation
of Foreign Exchange and Prevention of Smuggling Activities Act, 1974
– Foreign
Trade (Development and Regulation) Act, 1992
– Prevention
of Money Laundering Act, 2002
– Smugglers and
Foreign Exchange
Manipulators (Forfeiture of Property)
Act, 1976
(ii) Rules and Regulations
issued under FEMA Act, 1999
(iii) Forms
(iv) FAQs issued by Reserve
Bank of India
(v) Press Notes
(vi) Notifications issued
under FEMA
(vii) AP DIR Circulars
(viii) Master
Directions
About the author
This book would
not have been possible without the strong support of my well-wishers and
colleagues who gave their precious time and contributions to this book despite
their busy schedules.
In particular, I
thank Maadhavan MP for his infinite enthusiasm and support. Maadhavan has shown
a distinct acumen to understand and evaluate exchange control law. I have been
able to realise his ability in writing this book. I thank him for his ideas and
insight in making this book simple and reader friendly and for doing most of
the spade work for me. Despite high work pressure, I have been able to materialise
the plan of writing this book; but for Maadhavan’s help, this book would not
have been able to be completed within the time frame.
I thank my
partners and leaders at Grant Thornton India LLP who encouraged me to take this
task up. My entire team especially Pranaav Murali, Sreeraman V, Subiksha
Vinayagam, Kalyanaraman Sridhar, Aishwarya Vasudevan, Mohamed Nafees and
Ganapathy Subramaniam for their ardent efforts in completing this 1st Edition.
They have worked tirelessly to draft, edit and fine tune this book with
insights which you will find very handy. Without their unfailing enthusiasm and
meticulous review, I would not have been able to complete this edition. I also
thank them for painstaking efforts in preparing write-ups and flow charts tables.
I wish to thank
Divya Ashta and Radhika Jain for their independent insights over time without
which this book would not have been complete. I admire the depth of their
knowledge and wisdom.
My gratitude goes
out to the publishers of this book, Bloomsbury India and all the fine people in
the editorial team, including Toby Thomas and Komal Chadha. They have been
extremely patient and have put in an equal amount of time and efforts to
perfect this publication.