2019 (3) TMI 550 - HC - FEMA

Refund of amount deposited - FERA - Grievance of the applicant is that the department has not returned the seized cash of 6, 000/ nor refunded 20, 000/deposited by her as per interim directions of FERA Board not release her original title deeds - Held that - Learned counsel for the department stated under instructions that the department has already initiated steps for refunding such amounts. This application is disposed of with certain directions.

Summary

Issues:
- Refund of seized cash and deposited amount with interest
- Release of original title deeds

Refund of Seized Cash and Deposited Amount with Interest:
The applicant, who was facing proceedings under FERA, had cash amount of ?6,000 and original title deeds seized by Government Authorities. The FERA Board allowed the appeal, cancelling penalties and directing a refund of ?20,000 deposited by the applicant. The department's appeal was dismissed for default, and the FERA Board's order attained finality. Despite this, the department did not return the seized cash or refund the deposited amount. The High Court directed the department to return ?6,000 with 8% interest from the date of seizure and refund ?20,000 with 8% interest from the date of deposit till 20th May, 1994. If the amount was in Fixed Deposits post this date, interest accrued on them should also be refunded. If no Fixed Deposits were made, simple interest at 8% p.a. should be calculated and paid. These directions were to be completed by 30th April.

Release of Original Title Deeds:
The applicant also sought the release of her original title deeds held by the department. The High Court directed the respondent to return the applicant's original documents in their custody.

In conclusion, the High Court Bombay directed the department to refund the seized cash and deposited amount with interest, release the original title deeds, and ensure compliance with the specified directions by a set deadline.