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TMI Blog1982 (9) TMI 207X X X X Extracts X X X X X X X X Extracts X X X X ..... peal is directed against the order of the Foreign Exchange Regulation Appellate Board made in Appeal No. 478 of 1977, by which a penalty of Rs. 3,600 was imposed on the appellant. In this appeal, the notice regarding admission was issued in October, 1979. It has taken almost three years to effect service on the respondents. Today it is listed again for admission, but we would like to dispose of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the drafts and the money was admitted by Fareed in his statement before the Asst. Director of Enforcement. The payment to Shankarlal was also admitted. With these facts, the question is whether there was any violation of the Foreign Exchange Regulation Act of 1947 or 1973. There were as many as live charges framed against Syed Fareed. Simultaneously, Syed Meer was also proceeded against. A p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Syed Fareed paid the amount to Shankarlal on behalf of his son in Canada and discharged his debt, he has contravened section 5(1)( c ) of the FER Act, 1947. He has paid that money admittedly without the permission of the Reserve Bank, alter receiving the same from Syed Meer in lieu of the drafts sent by his son from Canada in foreign currency. He cannot, therefore, escape the penalty, though his ..... X X X X Extracts X X X X X X X X Extracts X X X X
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