2008 (9) TMI 1044 - AT - FEMA

Summary

The Appellate Tribunal for Foreign Exchange in New Delhi dismissed an appeal against an adjudication order imposing a penalty for contravention of FER Act, 1973. The appellant failed to comply with the mandatory pre-deposit requirement, leading to the appeal's dismissal. The tribunal had allowed the appellant to deposit 20% of the penalty amount, but non-compliance resulted in the dismissal of the appeal.