9911796707
TMI Blog2019 (3) TMI 1988X X X X Extracts X X X X X X X X Extracts X X X X ..... There is no provision under Section 49 that if a person feels aggrieved by an order passed in respect of offence committed under the repealed Act, he would be entitle to file an appeal before the Appellate Tribunal constituted under FEMA. That being so, the mere fact that the Adjudicating Authority in order dated 30-3-2017 has prescribed that an appeal shall lie to the Appellate Tribunal for Foreign Exchange or an interim order has been passed by the said Tribunal staying recovery of penalty subject to payment/deposit of 20% of the amount would not enure to benefit of the appellants to assert their claim that the appeal is maintainable before the Appellate Tribunal under SAFEMA, FEMA, PMLA, NDPS, PBPT Act. We do not find an error much le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at Ludhiana and appellants Nos. 2 and 3 are the Directors of said company. Satish Kumar Thapar is well conversant with facts of the case and has been authorized to file the appeal. 3. The appellants were engaged in export of pulses, laundry soap and rice to Russia, South Africa, UAE, Muskat etc. during the period 1993-96. Memorandum dated 30-8-2000 was issued by the Special Director, Enforcement Directorate, Government of India, Lok Nayak Bhawan, New Delhi for contravention of provisions of Section 18(2) of Foreign Exchange Regulation Act, 1973 (in short the Act ) read with Central Government Notification dated 1-1-1974 and Section 18(3) for action under Section 50 of said Act (Annexure A-2). The Deputy Director, Directorate of Enforcem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nterim order staying the recovery of penalty of Rs. 50,00,000/- subject to deposit of 20% thereof after appearance was caused by a representative of Directorate of Enforcement, Jalandhar. It is argued with vehemence that under Section 49(4) of FEMA, it has been provided that subject to the provisions of sub-section (3) of Section 49, all offences committed under the repealed Act (The Foreign Exchange Regulation Act, 1973) shall continue to be governed by the provisions of the repealed Act as if that Act had not been repealed. Under sub-section (5) clause (b) of Section 49 of FEMA, any appeal preferred to the Appellate Board under sub-section (2) of Section 52 of the repealed Act but not disposed of before the commencement of FEMA shall stan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat if a person feels aggrieved by an order passed in respect of offence committed under the repealed Act, he would be entitle to file an appeal before the Appellate Tribunal constituted under FEMA. That being so, the mere fact that the Adjudicating Authority in order dated 30-3-2017 has prescribed that an appeal shall lie to the Appellate Tribunal for Foreign Exchange or an interim order has been passed by the said Tribunal staying recovery of penalty subject to payment/deposit of 20% of the amount would not enure to benefit of the appellants to assert their claim that the appeal is maintainable before the Appellate Tribunal under SAFEMA, FEMA, PMLA, NDPS, PBPT Act. In this view of the matter, I do not find an error much less illegality in ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
