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Court orders return of seized foreign currency, payment in Indian rupees. The court ordered the return of seized foreign currency to the petitioner, directing the immediate payment of the Indian rupee equivalent. The Directorate ...
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Court orders return of seized foreign currency, payment in Indian rupees.
The court ordered the return of seized foreign currency to the petitioner, directing the immediate payment of the Indian rupee equivalent. The Directorate of Revenue Intelligence (DRI) and the Commissioner of Customs were instructed to comply with the court's decision, with the petitioner required to appear before the Additional Commissioner of Customs to receive the calculated amount in Indian rupees. Failure to adhere to the court's directives would allow the petitioner to pursue legal remedies.
Issues: Petitioner seeks return of seized foreign currency, non-compliance with court order for return of currency, dispute over jurisdiction between DRI and Customs, lack of notice before disposal of currency, calculation and payment of Indian rupee equivalent.
Analysis: 1. The petitioner requested the return of foreign currency seized by the Directorate of Revenue Intelligence (DRI) and the Commissioner of Customs. The petitioner complied with obligations by depositing fines and penalties, leading to court orders for release of the currency.
2. The DRI claimed the seized currency vested with Customs, not DRI, necessitating compliance with court orders by Customs. A notification requiring notice before disposal was highlighted, indicating lack of notice to the petitioner before conversion of currency into Indian rupees.
3. The court rejected the need for the petitioner to file additional applications for release, directing immediate payment of Indian rupee equivalent of the seized foreign currency. The petitioner's calculation of the payable amount was presented to both DRI and Customs for verification.
4. The court directed the petitioner to appear before the Additional Commissioner of Customs to receive the calculated amount in Indian rupees, to be paid via Demand Draft or Banker's Cheque. The Customs Department was allowed to verify the calculations, with the conversion rate applicable as of the specified date.
5. Non-compliance with the court's directions would enable the petitioner to seek legal remedies. The petition was allowed, and the court ordered the payment of the Indian rupee equivalent of the seized foreign currency to the petitioner, emphasizing adherence to the specified conversion rate.
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