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TMI Blog2014 (1) TMI 972X X X X Extracts X X X X X X X X Extracts X X X X ..... rned standing counsel for the Enforcement Directorate to take notice for the second and third respondents and to get instructions. Pending the writ petition, no interim order was passed. On notice from this Court, the respondents have filed a counter affidavit dated 23.03.2011. 3. It is the case of the petitioner that a sum of Rs.40,00,000/- was imposed as penalty against the petitioner for contravention of the provisions of Section 9(1)(b) and 9(1)(d) of the Foreign Exchange Regulation Act, 1973 (Central Act, 46 of 1973) (shortly "FERA"). This was on account of the petitioner having received a sum of Rs.1,08,50,000/- from non local person on behalf of one Syed Ibrahim of Bahrain, who is a person residing outside India, during November 198 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly informed that they have allowed the appeal. But the petitioner was not able to state as to why there was no further proceedings, after the request of the petitioner was considered by the Tribunal in the waiver of pre-deposit application. It is the stand of the petitioner that subsequently, he had received a notice dated 30.10.2007 asking to appear for an enquiry. The petitioner, through his counsel, sent a letter dated 06.11.2007 stating that on 15.12.1994 he was orally informed that his application was allowed and he requested a copy of the order allegedly passed by the Tribunal. But instead of conceding the request, he had issued a fresh notice to appear to argue the application on 01.07.2010. The petitioner, on receipt of the said not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... senting Officer of the previous Appellate Board did not pass any orders. In paragraph 4 of the counter affidavit, it was averred as follows: "4..... The Board issued notice to the both parties on 15.12.1994 to appear before the Appellate Tribunal Camp duly constituted at Chennai, but the Appellate Tribunal did not pass any orders on 15.12.1994. Amidst, the petitioner herein approached the Hon'ble High Court of Judicature of Madras at Chennai and filed Writ Petition No.18142 of 1994 challenging the Adjudicating Order dated 29.03.1994 and the same was dismissed by the Hon'ble High Court on 26.07.1999." It was also claimed that the petitioner has not established a prima facie good case and not satisfactorily proved that there was a financial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct also gives further 60 days from the date of commencement of FEMA. Under Section 35 of FEMA, any person aggrieved against the decision of the Tribunal can also file an appeal to the High Court. 8. Therefore, in the present case, the challenge made by the petitioner to the impugned order, does not stand to legal scrutiny. Except by contending that the earlier Appellate Board had orally allowed the petition for waiver of pre-deposit, the petitioner is not able to prove to the satisfaction of the Court that there was such an order in existence. It must also be noted that FEMA is a complete Court by itself and the question of challenging the Tribunal's order in a writ petition under Article 226 of the Constitution of India, will not arise. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SARFAESI Act and DRT Act and in paragraphs 55 and 56, it had held as follows: "55. It is a matter of serious concern that despite repeated pronouncement of this Court, the High Courts continue to ignore the availability of statutory remedies under the DRT Act and the SARFAESI Act and exercise jurisdiction under Article 226 for passing orders which have serious adverse impact on the right of banks and other financial institutions to recover their dues. We hope and trust that in future the High Courts will exercise their discretion in such matters with greater caution, care and circumspection. 56. Insofar as this case is concerned, we are convinced that the High Court was not at all justified in injuncting the appellant from taking action i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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