MOHAMMED YUSUFF SAHIB Vs. SPECIAL DIRECTOR

JUDGEMENT

(1.) This appeal arises out of an order passed by the Appellate Tribunal for Foreign Exchange, in a Revision Petition filed by the appellant herein.

(2.) We have heard Mr.J.Ferozkhan, learned counsel for the appellant and Mr.M.Dhandapani, learned Standing Counsel for the Directorate of Enforcement.

(3.) On 4.10.1996, the business and residential premises of the appellant were searched under Section 37 of the Foreign Exchange Regulation Act, 1973. In the course of the search, Indian Currency of Rs.60,000/- was recovered from his business premises and Indian Currency of Rs.9,40,000/- was recovered from his residential premises.