Pre-deposit requirement under foreign exchange law made the appeal non-maintainable after failure to comply with partial dispensation.

An appeal against a penalty order under the Foreign Exchange Regulation Act, 1973 remained subject to the statutory pre-deposit requirement under section 52(2), unless dispensation was granted for sufficient cause and undue hardship. The Tribunal had already allowed partial dispensation by directing deposit of 80% of the penalty, but the appellant failed to comply with that direction and showed no sufficient ground for default. As the statutory condition for entertaining the appeal was not fulfilled, the appeal was held not maintainable and liable to dismissal for non-compliance with the pre-deposit order.

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Issues: Whether the appeal was liable to be dismissed for failure to comply with the pre-deposit condition under section 52(2) of the Foreign Exchange Regulation Act, 1973.

Analysis: The appeal against the penalty order was subject to the statutory requirement that the penalty amount be deposited before the appeal could be entertained, unless dispensation was granted on sufficient cause and undue hardship. The Tribunal had already granted partial dispensation by directing deposit of 80% of the penalty, but the appellant neither complied with that direction nor showed any sufficient ground for non-compliance. In these circumstances, the statutory pre-condition for maintaining the appeal remained unfulfilled.

Conclusion: The appeal was not maintainable for non-compliance with the pre-deposit order and was liable to be dismissed.

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