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TMI Blog2012 (12) TMI 590X X X X Extracts X X X X X X X X Extracts X X X X ..... peal on merits against the order dated 30/7/2004 of the adjudicating authority. 2. It is the case of the respondent that during the period January, 1991 to April, 1991 the appellant had remitted an amount of US$ 52,75965 equivalent to Rs. 10.15 crores outside India without having imported any goods on the basis of the forged bogus documents. The case of the department is that the appellant was the brain behind two fictitious firms in whose names the bank accounts were opened and the illegal remittances were made. 3. The appellant had in his statement dated 2/8/1993 made under Section 40 of the FERA Act, 1973 inter alia deposed as under: "On being asked regarding the entire transaction of remittances against bogus import documents through ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prior intimation on telephone at the Bank and the same was collected by Shri. Ramesh A. Soni under my instruction and deposited in current account No.2367 of M/s. Real Gems....(illegible) was opened by Shri. Anil Jain under my instruction and and introduced by me and as per my directions he gave signed cheque book to Ramesh A. Soni on my instruction during January, 1991 and April, 1991. Shri. Ramesh A. Soni transferred Rs.27188713/- in the account of M/s. Diamount accounts No.2174 with "Vysya Bank Ltd. and the same were remitted to M/s. Diamblue Antwerp against the Bogus import documents received from an unknown person sent by Vinod Shah. In the same manner during January and April 1991 I received another amount of Rs. 30765000/- in cash ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quitant to US$ 2284865.50 against the bogus import documents submitted to bank after receipt from the said unknown man sent by Vinod Shah. During January 1991 and April 1991 a total amount of Rs. 10,45,300000/- was received by me in cash through unknown person along with Bogus Import documents and the same were deposited either of the three accounts that is A/c. No.2367, 2368 and 2524 and afterwards a total amount of 101502443/-equitant to US$ 5275965.65 were got remitted from A/c. No.2174 of M/s. Diambule and Impex Diamond Europe against the Bogus import documents supplied by known persons sent by Shri. Vinod Shah. The difference between the amount received in cash and amount remitted abroad that is about Rs. 3000000/- were kept by me as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as been made on the basis of his statement dated 2/8/1993 which according to him had been retracted. At that point of time, we asked the learned counsel whether the retraction made by the appellant was on record before the authorities. The learned Advocate fairly accepted that retraction was not produced by him before the authorities as according to him the retracted statement was available with the respondent and they should have suo moto acted upon the same. 7. We find that the Adjudicating authority has in her order very clearly rerecorded as a fact that there is no retraction on record. In case, there has been any retraction the appellant would have challenged the same and produced the retraction before the Tribunal or called upon the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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