9911796707
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Issues:
1. Appeal against adjudication order imposing penalty for contravention of FER Act provisions. 2. Failure to realize outstanding export proceeds within prescribed time. 3. Allegations of negligence by the exporters. 4. Lack of evidence to rebut presumption of non-realization of export proceeds. 5. Confirmation of penalty imposition and dismissal of appeals. Analysis: Issue 1: The appeals were filed against an adjudication order imposing a penalty on two appellants for contravening provisions of the FER Act. The penalty was imposed for not taking reasonable steps to realize outstanding export proceeds within the prescribed time frame. Issue 2: The main allegations against the appellants revolved around their failure to take action to realize full export proceeds from goods exported in 1982 until August 1987. The appellants were responsible for the day-to-day functioning of the exporting company and were held guilty for not realizing the outstanding amount. Issue 3: The appellants argued that they made efforts to sell or re-import the goods, but due to circumstances beyond their control, the goods were auctioned by custom authorities in Kuwait. However, the respondent argued that there was negligence on the part of the exporters as they failed to provide evidence or take necessary actions to realize the export proceeds. Issue 4: The tribunal observed that the appellants did not provide documentary evidence to prove the part realization of export proceeds or the alleged auction of goods by Kuwait authorities. This lack of evidence led to the failure of the appellants to rebut the presumption of non-realization of export proceeds as per FER Act provisions. Issue 5: After careful consideration of the arguments and evidence, the tribunal confirmed the penalty imposition and dismissed the appeals on merit. The tribunal found that the impugned order was valid and upheld the penalty amount already paid by the appellants. This judgment highlights the importance of exporters taking necessary steps to realize outstanding export proceeds within the prescribed time frame and the consequences of failing to provide sufficient evidence to rebut the presumption of non-realization.
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