9911796707
TMI Blog1996 (10) TMI 532X X X X Extracts X X X X X X X X Extracts X X X X ..... alise the entire proceeds of cuts and polished diamonds valued at US $1,87,973.28 (equivalent to Rs. 22,84,550 at the time of export) from Kidin International Corpn., New York to whom the export was made under the cover of GRI Form No. 428703 dated 10-1-1986. 2. The appellant has not deposited the amount of penalty nor has he filed a petition in accordance with the provisions of rule 6A of the Adjudication Proceedings & Appeal Rules, 1974, though he made a prayer in the memorandum of appeal that "the appeal may be admitted without making any payment." 3. This prayer was considered by us on 13-8-1996. Prima facie we were not satisfied that the appellant deserves waiver of the requirement of pre-deposit. However, since the appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jected the same giving cogent reasons therefor. The appellant then submitted through Shri Mahendra Singh that he would essentially plead for reduction of penalty as the amount is too excessive to be within his capacity to pay. Shri Gadoo for the respondents submitted that since the appellant is not challenging the findings of contravention and he is only pleading for reduction of penalty, he has no objection if the appeal is finally disposed of today without insisting for pre-deposit of the penalty amount. We appreciate Shri Gadoo's stand which will avoid the appeal remaining pending, possibly for a long period. We, therefore, decided to dispense with the requirement of pre-deposit. This order disposes of the appeal. 7. On our directions, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount. Even if the foreign buyer's address has changed, he could have got complete details about the foreign buyer from Governmental authorities since the foreign buyer is an incorporated company. He also submitted that Shri Singh adduced no cogent explanation as to why the appellant did not take any effective steps to realise the outstanding amount which is not a small amount. 10. After hearing the parties, we find substance in the submissions made by Shri Gadoo. We are not satisfied with the evidence furnished by the appellant that he took any effective steps to realise the outstanding amount. In order to be effective the efforts should be such as are likely to result in realisation of the outstanding amount. Therefore, it will depend o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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