Pre-deposit requirement under foreign exchange law: continued non-compliance with the tribunal's deposit order justified dismissal of the appeal.

Section 52(2) of the Foreign Exchange Regulation Act, 1973 required pre-deposit of the penalty amount before an appeal could be entertained, unless dispensation was justified by undue hardship and a prima facie case. Partial dispensation had already been granted, requiring deposit of 80% of the penalty, but the appellant did not comply despite adequate time. The continued default showed lack of bona fides and left the statutory condition for maintaining the appeal unmet, so the appeal was liable to be dismissed 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 order directing deposit of the penalty amount under Section 52(2) of the Foreign Exchange Regulation Act, 1973.

Analysis: Section 52(2) required deposit of the penalty amount before an appeal could be entertained, subject to dispensation where undue hardship and a prima facie case were shown. The appellant had earlier been granted partial dispensation and directed to deposit 80% of the penalty, but the order was not complied with even after adequate time. The continued default was treated as showing absence of bona fides, and the statutory requirement for maintaining the appeal remained unsatisfied.

Conclusion: The appeal was liable to be dismissed for non-compliance with the pre-deposit order.

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