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of <h1>Tribunal Upholds Guilty Verdict for FERA Violation, Orders Partial Return of Confiscated Funds After Penalty Adjustment.</h1> <h3>P.M. Shahul – Hameed Versus Director of Enforcement</h3> P.M. Shahul – Hameed Versus Director of Enforcement - TMI The Appellate Tribunal upheld the guilty verdict against the appellant P.M. Shahul Hameed for violating FERA sections 8(1) and 8(2). He was ordered to pay a penalty of Rs. 55,000 and Rs. 1,56,000 of the confiscated Rs. 3,56,000 would be returned to him after adjusting the penalty amount. The appellant was found dealing in foreign exchange, and the confiscation of the entire Indian currency was deemed unjustified.
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