2001 (6) TMI 839

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..... their personal efforts, they have now received the payment against the outstanding amount of $6244 for the non-realisation of which penalty was imposed which is under challenge in these appeals. A copy of the relevant bank advice for the remittances from Uganda to the appellant s account with Bank of Baroda Backbay Reclamation, Mumbai, is attached to the said letter. 2. In the appeal petition the .....

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..... the amount. However, the learned adjudicating authority was not satisfied with the appellants submission and proceeded to impose penalty of Rs. 25,000 on the President of the appellant-firm for their failure to make any concrete efforts to secure receipt in respect of aforesaid outstanding amount of $6244. During the pendency of this appeal that amount too has been realised as stated in the appel .....

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