RAJENDRA KUMAR PATEL Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner has filed the present petition, inter alia, praying that the petitioner be paid the actual rate of interest earned by the respondent on the amount seized and confiscated from the petitioner.

(2.) On 10.01.2007, the petitioner's business premises at Delhi, Surat and Mumbai were searched by the Enforcement Directorate (hereafter 'ED'). During the search, the respondent seized a total amount of Rs. 3,44,62,040/- and certain other documents. Thereafter, on 24.12.2007, a complaint was lodged under section 16(3) of the Foreign Exchange Management Act, 1999 (hereafter as 'FEMA') before the Adjudicating Authority.

(3.) Pursuant to the complaint, the Adjudicating Authority issued a Show Cause Notice (SCN) dated 12.05.2008 to the petitioner. The petitioner participated in the adjudication proceedings which culminated in the order dated 09.02.2009. By the aforesaid order dated 09.02.2009, the Adjudicating Authority directed confiscation of the seized amount and also imposed penalties on the appellant and its partners.