N P HAROUN RASHEED Vs. SPECIAL DIRECTOR, ENFORCEMENT DIRECTORATE AND FOREIGN EXCHANGE REGULATION, APPELLATE TRIBUNAL

JUDGEMENT

(1.) Challenge in this writ petition is to the order of the second Respondent, dated 01.05.2008, made in Appeal No. 397 of 2003. The said appeal was filed by the Petitioner before the appellate tribunal for foreign exchange under Section 52 of the Foreign Exchange Regulation Act, 1973 (hereinafter referred as the Act) against the order passed by the first Respondent, the Special Director, Enforcement Directorate, New Delhi, in Order No. SDE (SSB)IV/19 & 20/2003, dated 29.08.2003.

(2.) Admittedly, the appeal was filed in time. However, the Petitioner did not deposit a sum of Rs. 10,00,000/- imposed against him as penalty. Along with the appeal, he filed an application under Section 52(2) of the Act seeking to dispense with such deposit on the ground that he does not have wherewithal to deposit the same and insisting for such deposit would cause undue hardship to him. It was also contended that there was no prima facie case against him.

(3.) Having considered all the above, the appellate tribunal passed the impugned order declining to dispense with the pre deposit and directed the Petitioner to deposit the penalty within a period of 45 days. Challenging the same, the Petitioner is now before this Court with this writ petition.