2008 (7) TMI 1118

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..... ribunal for Foreign Exchange. 2. This appeal is filed against Adjudication Order No. ADJ/224/B/VKA/2000/6913 dated 28.06.2000 passed by the Assistant Director, Enforcement Directorate, Mumbai imposing a penalty of Rs. 3,50,000/- (Rupees three lakh fifty thousand only) against the appellant, Amar Singh Rajput for contravention of provisions of Section 9(1)(b) 9(1)(d) of the Foreign Exchange Regulat .....

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..... complied the pre-deposit order and argued that this appeal is liable to be dismissed as per statutory scheme where the appellant is bound to deposit penalty simultaneously with filing of appeal unless dispensation is granted by this Tribunal. 3. It will be appropriate here to produce the provisions of Section 52(2) of the FERA, 1973, regarding pre-deposit of penalty amount for filing of appeal by .....

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..... that where the Appellate Board is of opinion that the deposit to be made will cause undue hardship to the appellant, it may, in its own discretion, dispense with such a deposit either unconditionally or subject to such conditions as it may deem fit . 4. Thus under the statutory scheme the appellants are under an obligation to file appeal simultaneously alongwith penalty amount unless and until di .....

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