FEMA Lawyers in Chennai Law Forum offers the best Legal Support services for all types of Foreign Exchange Management Act Matters in India. Foreign Exchange Management Act, 1999 (FEMA), is an Indian parliamentary action “to consolidate and change laws related to foreign exchange with the aim of facilitating external trade and payment and to promote the development and maintenance of foreign exchange foreign currencies in India”.
It was continued on December 29, 1999 in Parliament, replacing foreign exchange regulation laws (FERA). This action made a violation related to foreign exchange civilian violations. This extends throughout India, [2] replacing Fera, which has become incompatible with the pro-liberalization policies of the Indian government.
This allows a new foreign exchange management regime that is consistent with the framework that arises from the World Trade Organization (WTO). It also paved the way for the introduction of the prevention of money laundering law, 2002, which began to apply from July 1, 2005.
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