UNION OF INDIA Vs. BATA INDIA LTD

JUDGEMENT

(1.) This appeal is directed against the order dt. 8/08/1988 passed by Foreign Exchange Regulation Appellate Board allowing the appeal preferred, inter alia, by Bata India Limited (hereinafter referred to also the 'respondent company').

(2.) Shortly stated the facts giving rise to this appeal are as under : Acting on information that the respondent company and its Directors are suspected to indulge in unauthorised transactions in foreign exchange, the officers of the Enforcement Directors, Calcutta, searched the head office, the sales office and the factory of the respondent company situated at Batanagar and the residences of O.P.Bhutani, Director (Finance) of the respondent company resulting in the recovery and seizure of certain documents. The statements of certain officers of the respondent company were also recorded by the officers. On the basis therefore, seven show cause notices were issued to the respondent company and its Directors.

(3.) The charges under show cause notices being SCN I, IV, VI, VII had been dropped by the Adjudicating Officer.