2008 (7) TMI 1103 - AT - FEMA

Summary

The Appellate Tribunal for Foreign Exchange in New Delhi dismissed two appeals for non-compliance with a judicial order to deposit penalty amounts of Rs. 35,000 and Rs. 95,000. The appeals were against adjudication orders for contravention of FER Act, 1973. The Tribunal found it mandatory for the appellant to make a pre-deposit of the penalty amount while filing an appeal. The appellants failed to comply with the conditional judicial order, leading to the dismissal of the appeals.