Court :
Supreme Court
Brief :
Held by Supreme Court that under section 56(1) (i) of the Foreign Exchange Regulation Act,although imprisonment is compulsory for not less than six months,yet the company can be prosecuted. It is clear and explicit that statute do not provide any immunity to the body corporates in this respect.
Citation :
Standard Chartered Bank and Others Vs. Directorate of Enforcement and Others
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India