RAMANI SASTRI Vs. ASSISTANT DIRECTOR, DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) Though matter is listed for preliminary hearing, by consent of learned counsel appearing for the parties, it is taken up for final disposal.

(2.) Petitioner has called in question show cause notice dated 30.12.2013, Annexure-'A' and the complaint bearing No.T-3/MISC/663/BZ/2002 (AD-MG), dated 30.12.2013, lodged against the petitioner. Respondentauthorities have initiated proceedings on the basis of a complaint dated 30.12.2013 made by the 1st respondent before the 2nd respondent under Section 16(3) of Foreign Exchange Management Act, 1999 (for short 'FEMA'), alleging that noticees have contravened the provisions of Section 8 of FEMA read with Regulation 3(b) of Foreign Exchange Management (Realisation, Repatriation and Surrender of Foreign Exchange) Regulations, 2000. 2nd respondent has issued a show cause notice dated 30.12.2013, Annexure-'A' to the petitioner calling upon him to show cause within 30 days as to why proceedings should not be taken against him for the alleged violation as indicated in the show cause notice. Challenging the same, petitioner is before this Court.

(3.) I have heard the arguments of Sri Vivek Holla, learned counsel appearing for the petitioner and Sri Madhukar Deshpande, learned counsel appearing for the respondents.