UNION OF INDIA (UOI) Vs. RAVI PRAKASH ARORA

JUDGEMENT

(1.) A revision application was preferred by the appellants before the Tribunal after a period of 4 years and 5 months. Section 96 (sic) of the FEMA Act confer powers on the Tribunal to examine legality, propriety and correctness of an order under Section 16.

(2.) No period of limitation has been set out in Section 96 (sic). Courts in such matters have interpreted such provisions to mean that it should be a reasonable period. In the instant case, the Tribunal was right in holding that period of 4 years and 5 months would not be a reasonable period within which it will entertain the revision application.

(3.) Considering the same, question of law as framed would not arise. The appeal is dismissed.