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<h1>Penalty Annulled: Procedural Irregularities Lead to Remand for Fair Hearing in Foreign Exchange Regulation Case.</h1> The appeal contested a penalty under the Foreign Exchange Regulation Act. The order was annulled by the Appellate Tribunal due to procedural ... - The appeal was against a penalty imposed on the appellant for contravening the Foreign Exchange Regulation Act. The order was set aside due to procedural irregularities, and the matter was remanded back to the adjudicating authority for fresh adjudication after giving the appellant a reasonable opportunity to be heard and inspect relevant documents.
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