LLM Group 2 Business Law Law Relating To Customs And Foreign Exchange 2018 Question Paper - Mumbai University | munotes

Questions asked in this paper

SECTION I - Q.P. Code 26069. Attempt any four questions, all questions carry equal marks of 25 each, cite relevant case laws in support of your answer (any four of seven) 100 Marks

1. 1) Expound the law relating to 'smuggling' and 'confiscation' of the improperly imported goods under section 111 and 125 of the Customs Act, 1962.
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2. 2) Examine the provisions of the Customs Act, 1962 relating to 'Arrest, Seizure and Confiscation'. Can the culpable mental state be presumed?
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3. 3) Critically evaluate the Doctrine of "Promissory Estoppel" with reference to section 25 of the Customs Act, 1962.
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4. 4) Explain the FEMA, provisions relating to Adjudication and Appeal.
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5. 5) Define and explain the following expressions under FEMA:
   • (a) Capital Account Transactions.
   • (b) Current Account Transactions.
   • (c) Contraventions and Penalties.
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6. 6) How the Importer-Exporter Code number and licensing is helpful to regulate Import-Export Trade in India.
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7. 7) Write notes on any three (3) of the following:
   • (i) Unjust enrichment.
   • (ii) Compounding of offences mechanism U/s. 137(3) of the Customs Act, 1962.
   • (iii) Assessment.
   • (iv) 'Death or insolvency' and its effect on pending cases under FEMA.
   • (v) Foreign Direct Investment (FDI) in India
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SECTION II - Q.P. Code 50133. Attempt any four questions, all questions carry equal marks of 25 each, cite relevant case laws wherever necessary (any four of seven) 100 Marks

1. 1) Examine the powers of Customs Officers for search, seizure and arrest of a person under the Customs Act, 1962
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2. 2) Critically evaluate the Doctrine of 'unjust enrichment' in relation to the Customs Act, 1962.
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3. 3) Examine the salient features of FEMA and explain how far it has contributed to the improvement of Foreign Exchange in India.
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4. 4) Discuss the provisions relating to contraventions and penalties under the Foreign Trade (development and Regulations) Act, 1992.
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5. 5) Examine the provisions related to contravention, penalties, adjudications and appeals under FEMA.
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6. 6) Explain the provisions related to duty not levied, short levied or erroneously refunded under the Customs Act.
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7. 7) Write notes on any three (3) of the following:
   • (a) Capital Account Transactions.
   • (b) Foreign Direct Investment.
   • (c) Settlement Commission.
   • (d) Option to pay in lieu of confiscation under Customs Act.
   • (e) Warehousing Regulations.
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