Arrest under the Foreign Exchange Management Act (FEMA) of 1999

The term “Foreign Exchange” means foreign currency and includes,
● Deposits, credits and balances payable in any foreign currency,
● Drafts, traveler’s cheques, letters of credit or bills of exchange, expressed or drawn in Indian currency but payable in any Foreign currency,
● Drafts, traveler’s cheques, letters of credit or bills of exchange drawn by banks, institutions or persons outside India, but payable in Indian currency;

Arrest under the Foreign Exchange Management Act (FEMA) of 1999 - (mylawyersadvice.com)

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