The Foreign Exchange Management Act, 1999 governs all cross-border financial transactions by Indian residents and entities. Contraventions under FEMA — which may arise from inadvertent non-compliance or regulatory ambiguity as much as from deliberate violations — can attract adjudication proceedings, civil penalties, and in serious cases, referral to the Enforcement Directorate.
Shams Legal LLP has deep experience in FEMA matters, developed over decades of practice in the Enforcement Directorate, where the predecessor legislation FERA was extensively litigated and later succeeded by FEMA. Our founding partner, Dr. Shamsuddin, represented India at FATF and the Asia Pacific Group — forums that shape the global framework within which FEMA operates. That experience gives the firm an understanding of both the letter and the policy intent of India's foreign exchange laws.
We advise clients on FEMA compliance, represent them in adjudication proceedings before the Adjudicating Authority, assist with compounding applications before the Reserve Bank of India, and appear before the Appellate Tribunal for Foreign Exchange (ATFE). We also represent clients in High Court proceedings where FEMA adjudication orders are challenged by way of writ petition.