UOI Vs. AMWAY INDIA ENTERPRISES

JUDGEMENT

(1.) The present appeal arises out of the common order dated 28.2.2007 passed by the Appellate Tribunal for Foreign Exchange (hereinafter referred to as 'the Tribunal') allowing Appeals No.262, 263, 264 & 301/2005 filed by the respondents No.1, 2, 3 & 4 respectively, assailing a common adjudication order dated 7.2.2005 passed by the Adjudicatory Authority imposing penalties against them for contravention of Section 29(1)(a) of the Foreign Exchange Regulation Act, 1973(hereinafter referred to as 'FERA').

(2.) Vide order dated 7.2.2005, the Adjudicatory Authority had disposed of the notice to show cause dated 29.5.2002 addressed to the respondents, calling upon each of them to show cause as to why the adjudication proceedings contemplated under Section 51 of FERA should not be initiated against them for contravention of the provisions of Section 30 read with Para 11 D.2(ii) of the Exchange Control Manual (for short 'ECM') of FERA. The Adjudicatory Authority had found the respondents No.1, 2 & 3 guilty of having contravened the provisions of Section 30 read with Para 11 D.2(ii) of the ECM and the respondent No.4 guilty of having contravened the provisions of Section 64 (2) of FERA and resultantly, imposed penalties of "80.00 lacs on the respondent No.1, "50.00 lacs on the respondent No.2, "12.00 lacs on the respondent No.3 and "30.00 lacs on the respondent No.4.

(3.) Assailing the aforesaid decision of the Adjudicatory Authority, all the respondents had filed separate appeals registered as Appeals No.262, 263, 264 & 301/2005, that were disposed of by the Appellate Tribunal by passing a common order dated 28.2.2007, whereunder the said appeals were allowed and the adjudication order was set aside. Aggrieved by the aforesaid decision of the Appellate Tribunal, the appellant/UOI has filed the present appeal.