https://www.taxtmi.com/caselaws?id=105321 Failure to comply with a summons issued under section 40 of the Foreign Exchange Regulation Act, 1973 was treated as a contravention of a direction issued under the Act and therefore punishable under section 56(1)(ii), even where no ascertainable monetary value was involved. The court held that non-appearance in response to such summons fell within the penal scheme of section 56, and declined to accept the contention that the matter should instead proceed only under section 174 of the Indian Penal Code, 1860. Claims of illness or other factual defences were considered matters for trial, and the existence of prima facie material justified cognizance; the quashing petition was dismissed. en-us Wed, 11 Mar 1998 00:00:00 +0530 Mon, 05 Mar 2012 12:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105321 Failure to comply with a summons issued under section 40 of the Foreign Exchange Regulation Act, 1973 was treated as a contravention of a direction issued under the Act and therefore punishable under section 56(1)(ii), even where no ascertainable monetary value was involved. The court held that non-appearance in response to such summons fell within the penal scheme of section 56, and declined to accept the contention that the matter should instead proceed only under section 174 of the Indian Penal Code, 1860. Claims of illness or other factual defences were considered matters for trial, and the existence of prima facie material justified cognizance; the quashing petition was dismissed. Case-Laws Companies Law Wed, 11 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105321