The Commentary on the Foreign Exchange Management Act provides a comprehensive analysis of the law and its various provisions governing foreign exchange in India. Initially, laws like the Foreign Exchange Regulation Act, 1947, and later the Foreign Exchange Regulation Act, 1973 (FERA), were enacted to control foreign exchange and conserve the country's foreign exchange resources for economic development. However, these laws did not achieve the desired results.

Key Features:

- Exhaustive section-wise commentary on the Foreign Exchange Management Act, including allied Rules and Regulations.

- Simplified explanation of important words and phrases used in different provisions of the Act, based on case law and other relevant legislations.

- Extensive list of appendices containing relevant Rules, Regulations, and Circulars.

- Incorporates the latest case law updates, up to March 2023.

This commentary not only provides case law-based insights but also focuses on the legal interpretation of words and phrases used in the Act. Efforts have been made to correlate different provisions of FEMA with related Rules and Regulations, enhancing clarity and understanding for practitioners and professionals dealing with foreign exchange regulations in India.