THOMAS COOK INDIA LTD. Vs. ADDITIONAL DIRECTOR

JUDGEMENT

(1.) Since the issue involved in all the four appeals is inextricably connected with each other, all these appeals were heard together and are disposed of by this common judgment.

(2.) As against the order of the adjudicating authority under the Foreign Exchange Management Act, 1999 (In short 'FEMA'), appeals had been filed before the appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (SAFEMA) at New Delhi, where, the appellants had sought for waiver of pre-deposit of penalty.

(3.) For better understanding of the case, the facts in C.M.A.No.2802 of 2024 is traversed herein. The adjudicating authority imposed a sum of Rs.3.00 Crores penalty on M/s.Thomas Cook India Limited / the appellant in C.M.A.No.2802 of 2024 and imposed a penalty of Rs.1.50 Crores on one Mr.Amit Bhatia, who claimed to be the authorised signatory of M/s.Thomas Cook India Limited. Therefore, two separate appeals have been filed, where, such a waiver had been sought for under the second proviso to Sec. 19(1) of the FEMA.