https://www.taxtmi.com/caselaws?id=108494 The ship Orient Shreyas was confiscated under Section 115(2) of the Act for involvement in smuggling activities, with an option to redeem it by paying a fine of Rs. 2.5 crores. The judgment addressed liability issues of the owner, agent, and person in charge, emphasizing the need for control to establish penalties. The charterer was not implicated in smuggling, leading to no penalties. The Stevedoring agency was not found liable for foreign currency smuggling. The master's lack of precautions led to vessel liability. The imposed fine was reduced to Rs. 1 crore, with appeals partially allowed based on detailed analysis. en-us Fri, 09 May 2003 00:00:00 +0530 Sat, 31 Mar 2012 18:22:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108494 The ship Orient Shreyas was confiscated under Section 115(2) of the Act for involvement in smuggling activities, with an option to redeem it by paying a fine of Rs. 2.5 crores. The judgment addressed liability issues of the owner, agent, and person in charge, emphasizing the need for control to establish penalties. The charterer was not implicated in smuggling, leading to no penalties. The Stevedoring agency was not found liable for foreign currency smuggling. The master's lack of precautions led to vessel liability. The imposed fine was reduced to Rs. 1 crore, with appeals partially allowed based on detailed analysis. Case-Laws Customs Fri, 09 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108494