9911796707
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Issues:
1. Contravention of provisions of FERA, 1973 - Sections 9(1)(b) & 9(1)(a). 2. Validity of confessional statements and their retraction. 3. Corroboration of evidence to prove charges. 4. Prohibition of transactions under FERA, 1973 - Section 9(1)(b) & 9(1)(a). Analysis: 1. The appeal was filed against an Adjudication Order imposing a penalty for contravention of FERA provisions. The appellant had received payment on behalf of an NRI and made payments to a person resident outside India without RBI permission. The appellant deposited the penalty amount but did not appear for the appeal, indicating lack of interest. Investigations revealed misuse of NRE accounts, with the appellant facilitating transactions. The appellant admitted arranging a draft and receiving payment for the NRI, leading to contravention of FERA sections. The confessional statements were corroborated by recipient statements and retraction lacked supporting evidence. 2. The Supreme Court's observations emphasized the voluntary nature of statements for validity. The appellant's admission, along with corroborative evidence, created a strong case against him. The retracted confessional statement, without proof of coercion, held weight in establishing guilt. The court may rely on retracted confessions if corroborated adequately. In this case, the admission and corroborative evidence formed a substantial basis for proving the charges. 3. The appellant's actions in delivering a draft and handling payments for the NRI violated FERA provisions. The significant amount involved was deemed a gift, but lack of acquaintance between parties raised suspicions. The appellant's role in the transaction, without proper justification, indicated guilt beyond reasonable doubt. The Adjudicating Officer's decision was upheld as the impugned order stood judicial scrutiny. The appeal was dismissed, affirming the appellant's guilt and appropriating the pre-deposited amount towards the penalty. 4. The judgment highlighted the seriousness of contravening FERA provisions, emphasizing the need for proper documentation and adherence to regulations. The case serves as a reminder of the legal consequences of unauthorized international transactions and the importance of compliance with foreign exchange laws to avoid penalties and legal actions.
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