9911796707
TMI Blog2004 (5) TMI 626X X X X Extracts X X X X X X X X Extracts X X X X ..... roceedings were found guilty of the charges and so noticee No. 1 was levied with penalty of Rs. 50 lakhs and the other two noticees with Rs. 10 lakhs each. The charge against the respondent was that the concern by name M/s. Northern Tannery had failed to realise export proceeds against certain GRs whereof shipments effected in 1998 and that noticee Nos. 2 and 3 were also vicariously liable for the contravention so committed by the concern. Noticee Nos. 2 and 3 were partners of the concern who was noticee No. 1 in the proceedings. SCN was issued to all the 3 noticees. They had also filed their replies. In the adjudication proceedings on close of the enquiry they were found guilty of the charge and so was the orders of penalty issued against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icees in preparation of their defence and so they had suffered irreparable loss and injury by the hasty steps taken by the adjudicator. It is also the appellant s case that all reasonable steps were taken by the firm for realisation of the amounts; relying on the copies of correspondence produced alongwith the appeal as Annexure 7 it was submitted by the counsel that various reminders and fax messages including telephone calls were made to the foreign buyers in their anxiety for realisation of the dues and it was for reasons beyond their control including the slack market condition in Italy the payments could not be realised by the buyer resulting in delay in realisation of the amounts. As rightly pointed out by the counsel on scrutiny of v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10 in their reply dated 7-5-2002. The counsel for the appellants submits that the firm was keeping regular contact and touch with the RBI and also the authorised dealer and was keeping them informed with regard to the realisation of the proceeds and the reasons for non-realisation from the remaining buyers. 8. As rightly pointed out by the counsel for the appellants from the copies of correspondence produced by the appellant in the proceedings it is clear that the appellants had initiated reasonable steps for realisation of the dues; relying on the ruling in Veerayee Ammal v. Seeni Ammal 2001 (9) JT 145, the term reasonable has in law the prima facie manner all reasonable in regard to this stand of which the person concerned is called upon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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