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TMI Blog1995 (11) TMI 492X X X X Extracts X X X X X X X X Extracts X X X X ..... nst Adjudication Order No. ADDL/HKS/II/5/91, dated 4-1-1991 under which a penalty of Rs. 6 lakhs has been imposed on the appellant for non-realisation of the proceeds of exports of the total value of Rs. 6,00,680.39 thereby contravening the provisions of section 18(2), read with section 18(3), of the Foreign Exchange Regulation Act, 1973. The appellant has also filed an application seeking dispens ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings made in the impugned order are contrary to the facts on record and the order has been made without giving an opportunity to the appellant to be heard and even otherwise it has been made without taking into consideration the evidence furnished by the appellant during the investigation of the case. He submitted that the appellant made only two exports under GRI Nos. BYJ 368982 BYJ 5268626 in Au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntire amount stands outstanding is factually incorrect and the charge of contravention based on this finding is totally unsustainable on facts. 3. Dr. Shamsuddin, appearing for the respondents, submitted that as can be seen from the SCN, the charge is for delayed realisation of export proceeds. After hearing the parties, we are satisfied that it would cause undue hardship to the appellant if he is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is no substance in the suggestion made by Dr. Shamsuddin. 5. We also find from the certificates of remittances as well as the certificate of export proceeds furnished by the appellant s bank that the entire amount due against the exports covered by the two GRIs has been realised and the bank has certified nil outstanding. The learned Adjudicating Officer appears to have relied on some old informa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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