VIRENDER KUMAR YADAV Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner seeks setting aside of order dated 31st January, 2008 passed by the Appellate Tribunal for Foreign Exchange in appeal No.132/2007 directing the appellant to deposit 20% of the penalty amount within 30 days from the date of receipt of the said order.

(2.) The brief facts to comprehend the disputes are that the penalty was imposed on the petitioner by the Special Director of Enforcement on the allegation that the partner of the petitioner Sh.Hardeep Singh @ Babu and another person Sh. Raman B. Gupta, Sh. Sunil Gill and Sh. Rajiv Kumar and Sh. Deepak were illegally acquiring and transferring foreign currency out of India to bring into India gold, silver and other dutiable goods.

(3.) The allegation of the petitioner is that the respondents alleged that the goods were purchased by Raman B.Gupta in Hongkong from Sh.Atul P.Shah and consequently Sh.Raman B.Gupta and his others have acted contrary to the provisions of Section 8(1) and 8(2) of FERA, 1973.