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TMI Blog2010 (10) TMI 944X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the appellant against the original order imposing a penalty of Rs. 2 lakhs by the adjudicating authority is dismissed. 3. The brief facts of the case are that the appellant and other co-accused were served with notice dated 30-3-1998 alleging contravention of Section 9(1)(a), 9(1)(b) and 9(1)(d) of Foreign Exchange Regulation Act, 1973 hereinafter referred as FERA. In the Notice it was alleged that one Shri Vinod G. Lath who is a resident of India made a payment of Rs. 3,45,000/- in cash to Shri Sushil Budhia who is also a resident of India. This payment was made against the purchase of one draft for Rs. 3 lakhs issued from NRE A/c No. 5698 of Shri Arjun K. Shamdasani with Punjab National Bank, Pune. It was further alleged that Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to prove the case beyond doubt. He further contended that it is for the prosecution to show that the confession of the accused is voluntary in nature and are not obtained as an outcome of threat or coercion. The learned counsel further contended that the prosecution in the present case had not examined any independent witness to prove the offence and therefore the penalty cannot be sustained in the eyes of law. 6. On the other hand Shri A.C. Singh, DLA suppoted the judgment passed by the authorities. He submitted that the statement recorded under Section 40 of FERA are presumed to be statement under Section 193 and 228 of CRPC and can be relied under Section 80 of the Evidence Act. He further contended that the impugned orders are not tot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... obtained demand draft/cheque for Rs. 27,00,000/- from the NRE a/c of various NRIs after paying a premium amount of Rs. 4,05,000/- along with the cost of Rs. 27,00,000/- or demand draft/cheque. Once I rejected retraction of Shri Vinod Lath, all other retractions by Shri sushil Budhia, Babubhai Shah, Promod Shah and Devendra Kothari becomes meaningless because money changed hand forward and demand draft/cheques from NRI a/c changed hand backward through them. He has also stated that 61 loose sheets were seized from the office premises of Shri Vinod Lath and confession statement given by Vinod Lath, Laxmikant Lath, Sushil Budhia, Pramod Shah and Devendra Kothari clearly proves the offence beyond doubt. 9. The only piece of evidence is th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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