MANAK KALA Vs. UNION OF INDIA

JUDGEMENT

(1.) The appellant has filed the present appeal under Section 35 of the Foreign Exchange Management Act, 1999 (hereafter 'FEMA') read with Section 54 of the Foreign Exchange Regulation Act, 1973 (hereafter 'FERA') impugning an order dated 28.02.2016 (hereafter 'the impugned order') passed by the Appellate Tribunal for Foreign Exchange (hereafter 'the Tribunal') in Appeal No. 62/2014 captioned 'Sh Manak Kala v. Special Director (Appeals), Enforcement Directorate'.

(2.) By the impugned order, the Tribunal dismissed the appeal preferred by the appellant against an order dated 24.09.2014 (hereafter referred to as 'the Appellate Order') passed by the Special Director (Appeals). By the Appellate Order, the Special Director (Appeals) reduced the penalty that was imposed on the appellant by an order dated 17.02.2014 passed by the Deputy Director of Enforcement (hereafter the 'Adjudicating Authority'). By that order, the Adjudicating Authority had imposed a penalty of Rs.75,00,000/- on the appellant and directed confiscation of the amount of Rs.7,95,000/- seized from his office, under Section 63 of FERA.

(3.) Briefly stated, the relevant facts necessary to address the controversy arising in this appeal, are as under: