CLASSIC CREDIT LIMITED Vs. TRIBUNAL FOREIGN EXCHANGE

JUDGEMENT

(1.) THE application seeks recall of the order dated 7th November 2007, whereby, this court had directed the writ petition to be treated as an appeal, under Section 35 of the foreign Exchange Management Act ('the act'), and list it before the appropriate bench.

(2.) THE order of court, of which recall is sought, reads as follows:

(3.) THE applicants state that no efficacious alternative remedy by way of appeal exists, since the statute, that is, Section 35 of the foreign Exchange Management Act, 1999 ('fema' for short) enables an aggrieved party to prefer an appeal to the High Court, only on a question of law. The justification or otherwise of the Appellate Tribunal's order, declining relief, or not granting relief of waiver of pre-deposit, to the extent sought for, is not a question of law. Therefore, an appeal would not lie. In these circumstances, the party would be deprived of any forum to agitate its grievances, and would also forfeit its right of appeal.