Supreme Court of India
Tulip Star Hotels Ltd. v. Special Director of Enforcement
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Memorandum of FLM issued by RBI - Clause 9 - Sale of foreign currency - Restriction - Held: Under paragraph 9, as between the money changers, a free hand has been given for purchase and sale of any foreign currency notes etc. in rupee value - The only restriction imposed therein is that the Indian rupee value of the foreign currency should not be paid by way of cash, but should always be paid in the form of a negotiable instrument or by debiting to the purchasers' bank account - In the instant case, transaction was carried on by way of payment in the form of pay-orders - It cannot be held
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