1995 (11) TMI 142 - HC - FEMA

Summary

The appeal under Section 54 of the Foreign Exchange Regulation Act was dismissed by the High Court of Madras as the Appellate Board rejected it as time-barred due to a delay of about 742 days in filing the appeal. The Court held that the appellant did not have a vested right to invoke the provisions of the old Act for condonation of delay, and upheld the decision of the Appellate Board. The appeal was dismissed with no order as to costs.