In Brief
Maars Software International Ltd challenged a High Court decision concerning alleged violations of the Foreign Exchange Management Act, 1999. The Supreme Court found that the High Court had failed to properly examine material evidence and arguments placed by the appellants, despite the tribunal below having considered such evidence. The Court held that this omission constituted a material procedural error. Accordingly, the appeals were remanded to the High Court for fresh decision on merits in accordance with law, without the Supreme Court expressing any view on the underlying FEMA violations.
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