A KAMAL BATCHA Vs. ASSISTANT DIRECTOR, ENFORCEMENT DIRECTORATE

JUDGEMENT

(1.) This appeal by one Kamal Batcha is preferred against the order of Foreign Exchange Regulation Appellate Board (Southern Zone), finding him guilty under Sections 5(1)(aa) and 5(1)(c) of the Foreign Exchange Regulation Act, 1947 (for short "the 1947 Act"). A penalty of Rs. 5,000 was imposed by Assistant Director, Enforcement Directorate, Madras-6, for the violation of Section 5(1)(aa) and that was confirmed by the Board. The penalty of Rs. 500 imposed under Section 5(1)(c) was reduced to Rs. 250 by the Board. The appellant challenges that order of the Board in this appeal.

(2.) The gravamen of the charges is that the appellant, a resident of India received Rs. 12,800 from local persons other than authorised dealers in foreign exchange without the general or special exemption from the Reserve Bank of India under instructions from residents outside India and that he has also made a payment of Rs. 500 to local persons unauthorisedly under instructions from residents outside India without the permission of the Reserve Bank of India.