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<h1>Appeal Overturns Penalty Under Foreign Exchange Regulation Act; Rs. 75,000 Ordered to Be Refunded.</h1> <h3>Ram Mohan Kapoor Versus Director of Enforcement</h3> The appeal successfully challenged the penalty under s. 9(1)(d) of the Foreign Exchange Regulation Act, 1973. The Adjudication Order was overturned by the ... - The appeal was against a penalty imposed for contravention of section 9(1)(d) of the Foreign Exchange Regulation Act, 1973. The Adjudication Order was set aside as the charge was not sustainable in law. The penalty of Rs. 75,000 was ordered to be refunded if already deposited by the appellant.