YASMIN M.V. VALIBHOY Vs. DIRECTOR ENFORCEMENT DIRECTORATE

JUDGEMENT

(1.) THE petitioner herein is wife of late Mr. Bharat Thacker and daughter in law of late Mr. Hansraj Thacker, father of late Mr. Bharat Thacker. By adjudication order dated 30th August, 1998 passed under Foreign Exchange Regulation Act, 1973, penalty of Rs. 16,07,50,000/ - and Rs. 5,00,000,00/ - have been imposed on the ground of alleged violations of the provisions by late Mr. Hansraj Thacker and late Mr. Bharat Thacker.

(2.) AGAINST the said adjudication order late Mr. Bharat Thacker had filed two appeals before the Appellate Tribunal of Foreign Exchange which was earlier known as FERA Board. The first appeal is as a legal representative of late Mr. Hansraj Thacker and the second appeal in his personal capacity. Mr. Hansraj Thacker expired on 27th August, 1994. Along with the appeals, Mr. Bharat Thacker had filed applications for waiver of pre -deposit of the penalty amounts. During the pendency of the two appeals, Mr. Bharat Thacker had also expired on 18th September, 2000.

(3.) BY the impugned order dated 8th February, 2007, learned Tribunal has asked the petitioner to deposit Rs. 1,00,000,00/ - as against the penalty of Rs. 5,00,000,00/ - imposed on Mr. Bharat Thacker. In the first appeal filed against the adjudication order on the basis of the show cause notices issued to Mr. Hansraj Thacker, full dispensation has been granted. I am not concerned with the said appeal and the dispensation granted.