Foreign Exchange Management Act, 1999 – Section 10(4) and 11(1) – Clause 2(iii) of the Merchanting Trade Transactions Guidelines was a proportionate measure in ensuring the availability of sufficient domestic stock of PPE products – Measure was validly enacted, in pursuance of legitimate state interest and did not disproportionately impact the fundamental rights – Hence, Clause 2(iii) passes muster under Articles 14, 19(1)(g) and 21
SUPREME COURT OF INDIA FULL BENCH AKSHAY N PATEL — Appellant Vs. RESERVE BANK OF INDIA AND ANOTHER — Respondent ( Before : Dr. Dhananjaya Y. Chandrachud, Vikram Nath and…