https://www.taxtmi.com/caselaws?id=81603 Mere technical breach of procedural requirements, without any finding of misappropriation, undue advantage, or substantive contravention, was held insufficient to treat the petitioners as abettors of the Bank's foreign exchange breach or to sustain confiscation and penalty. The Bombay HC set aside the confiscation and penalty against the petitioners, but upheld the remainder of the adjudication order because the challenge was confined to their liability and the other findings were not required to be disturbed. The Court also held that the Single Judge's direction awarding interest was unwarranted and deleted it. en-us Mon, 10 Feb 1992 00:00:00 +0530 Mon, 27 Jun 2011 16:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81603 Mere technical breach of procedural requirements, without any finding of misappropriation, undue advantage, or substantive contravention, was held insufficient to treat the petitioners as abettors of the Bank's foreign exchange breach or to sustain confiscation and penalty. The Bombay HC set aside the confiscation and penalty against the petitioners, but upheld the remainder of the adjudication order because the challenge was confined to their liability and the other findings were not required to be disturbed. The Court also held that the Single Judge's direction awarding interest was unwarranted and deleted it. Case-Laws FEMA Mon, 10 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81603