M K SURI Vs. DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) PRESENT appeal has been filed under Section 35 of the Foreign Exchange Management Act 1999 (hereinafter referred to as the FEMA ). It has impugned the order of the Appellate tribunal for Foreign Exchange dated 26. 3. 2008.

(2.) THE Adjudicating Authority i. e. the office of the Deputy Director on 30. 3. 2005 had held the petitioner M. K. Suri, proprietor of M/s amit Export guilty of contravention of the provisions of Section 18 (2) and 18 (3) of the foreign Exchange Regulation Act 1973 (hereinafter referred to as the FERA ). A penalty of Rs. 2,50,000/- had been imposed upon him. While passing the said order subclause (iii) of page 1 read as follows :-

(3.) APPEAL against the impugned order was thereafter preferred before the Appellate authority i. e. the Appellate Tribunal for Foreign exchange. Vide order dated 26. 3. 2008 while confirming the penalty of Rs. 2,50,000/-imposed upon the petitioner the said appeal had been dismissed inter alia on the following ground:-